Portfolio Management Specialist

Cenovus Energy; Calgary; On-site; CAD 150,000 - 195,000; Full time

Benefits offered by this job

Paid vacation

Health & dental benefits

Mental health coverage

Life insurance

Disability benefits

Virtual healthcare

Job summary

Cenovus Energy, based in Calgary, seeks a seasoned Portfolio Management Specialist to drive value through cost-aware portfolio delivery. You will supervise a Portfolio Coordinator, integrate financials with project execution, and align cross-functional teams to the portfolio roadmap in a high-growth energy environment.

The role emphasizes linking process, data, people, AI and technology to optimize capital allocation and reporting while supporting Cenovus’s strategic objectives.

Qualifications

• Bachelor’s degree from an accredited university.
• Minimum 12 years’ experience in Project/Portfolio management, preferably in an oil and gas environment.
• Extensive program and project delivery and/or capital allocation framework experience.
• Broad knowledge of data platforms/warehouses, ERP systems, niche applications and/or AI tools is an asset.
• We acknowledge transferable skills and may consider equivalent combinations of experience and education.

Responsibilities

• Support annual LRP/Budget and monthly forecast development aligned to the portfolio roadmap.
• Approve and monitor vendor invoicing and payment workflows in OpenInvoice and SAP.
• Guide Portfolio Coordinator in reconciling monthly actuals, forecast and detailed financial tracking for the portfolio.
• Develop and maintain a portfolio-level schedule with dependencies, milestones and constraints.
• Develop and maintain a monthly portfolio-level status report.
• Track and administer adherence to the Capital Allocation Framework and input into Investment Committee memos.
• Co-develop the Business Transformation Value Delivery Framework.
• Liaise with SCM for RFPs, VMOs, SOWs and invoice processing.
• Maintain trackers for interfaces, resources, RAIDD and decision materials.

Skills

Portfolio management

Financial acumen

Stakeholder communication

Data platforms knowledge

Education

Bachelor's degree

Tools

SAP

OpenInvoice

Job description

About this opportunity

The Portfolio Management Specialist will be part of the broader Business Transformation (BT) team that is a dedicated team within Cenovus, that is accountable for transforming how Cenovus works and making us a more cost competitive organization. We do this with a value first lens and need to be strategic in linking process, data, people, artificial intelligence (AI) and technology together, ensuring dependencies, constraints and scalability are top of mind as we work in a cost and resource constrained environment. This is an exciting opportunity to be part of the broader Business Transformation team and be accountable for tracking a complex portfolio of projects delivering various outcomes across the business with a focus on value creation and helping make Cenovus a leader in Artificial Intelligence (AI) among our peer group. This role will supervise a Portfolio Coordinator that assists them in day to day cost management, monthly reporting, team logistics and general support. This role reports to the Director, Business Engagement within the Business Transformation team.

What you’ll do

• Financials: Support annual LRP/Budget and monthly forecast development aligned to the portfolio roadmap. Approve and monitor vendor invoicing and payment workflows in OpenInvoice and SAP. Guide Portfolio Coordinator in reconciling monthly actuals, forecast and detailed financial tracking for the portfolio and individual projects including collaboration with Finance and D&IT to produce standard reports, analyze variances and flag issues.
• Schedules & Dependencies: Develop and maintain a portfolio-level schedule view, including cross-project dependencies, key milestones and constraints, flagging issues to leadership as required.
• Status Reporting: Develop and maintain a monthly portfolio-level status report, consolidating monthly project status reports into a portfolio view.
• Capital Allocation Framework: Track and administer adherence to the Capital Allocation Framework in collaboration with Business Opportunity Managers (BOMs) and the Corporate Investment Appraisal and Portfolio Management (IA&PM) team. Provide input into Investment Committee memo financials, ensuring alignment with portfolio financials.
• Value Tracking: Co-develop and maintain the Business Transformation Value Delivery Framework. Establish fit-for-purpose mechanisms aligned with Cenovus standards.
• Vendor Coordination: Liaise with Supply Chain Management (SCM) for Request for Proposals (RFP), D&IT Vendor Management Office (VMO), and vendors on Statements of Work (SOW) status, document filing, and invoice processing.
• Project & Portfolio Trackers: Maintain trackers for interfaces, resource requirements, onboarding/offboarding, and utilization. Maintain and follow up on portfolio-level Risks, Actions, Issues, Decisions and Dependencies (RAIDD). Prepare decision materials and manage Docusign approvals.

Who you are

• Legally authorized to work in Canada.
• Bachelor’s degree from an accredited university.
• Minimum 12 years’ experience in Project/Portfolio management preferably in an oil and gas environment.
• Extensive program and project delivery and/or capital allocation framework experience.
• Broad knowledge of data platforms/warehouses, ERP systems, niche applications and/or Artificial Intelligence (AI) tools is an asset.
• We acknowledge the value of transferrable skills and may consider equivalent combinations of experience and education should you not meet a specific requirement.

The application deadline for this position is 11:59 PM MT September 30, 2026.

Who we are

Ranked as one of Canada’s Best Employers in 2025, Cenovus is an integrated energy company headquartered in Calgary. We’re committed to maximizing value by developing our assets in a safe, responsible and cost-efficient manner. We operate in Canada, the United States and the Asia Pacific region. Our operations include oil sands projects in northern Alberta, thermal and conventional crude oil and natural gas projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and liquids production offshore China and Indonesia. Cenovus’s downstream operations include upgrading, refining and marketing operations in Canada and the United States.

The Cenovus experience Total rewards

We’re committed to being an employer of choice through competitive compensation and our comprehensive total rewards package, including:

• Paid vacation (including a flex day program for eligible staff)
• Health & dental benefits
• Substantial mental health coverage
• Life insurance
• Disability benefits
• Employee family assistance
• Virtual healthcare coverage

We foster a culture of continuous learning and development to support employees as they build meaningful careers.

We offer a variety of employee development initiatives, including:

• Internal course offerings
• Education assistance for additional development
• Opportunities to work on special projects
• Leadership development programs for emerging and established leaders

We actively promote internal job movement, recognizing the value of gaining new perspectives, building connections across teams, and applying expertise in new ways. As a fully integrated energy company, we believe that sharing knowledge across our business and operations creates stronger outcomes—for employees and for the company as a whole.

Our culture

Our purpose: We energize the world to make people’s lives better.

Our values:

• Protect what matters
• Do it right
• Make it better
• Do it together

Cenovus Cares

We believe in the power of purpose-driven work. Our Employee Giving and Volunteering Program, Cenovus Cares, connects our people to our purpose, inspiring action and elevating impact year-round. Support causes you care about with volunteer opportunities in and outside of work.

• Earn donation grants while volunteering (up to $1,000 per event)
• Receive donation matching up to $10,000 annually

Staff resource groups

We have various staff resource groups to help ensure our people feel a sense of belonging and can grow and do their best work. These voluntary groups are employee-led and all groups are open to all staff in all locations.

Equal opportunity employer

We believe a workplace where everyone has merit-based opportunities to grow, achieve career aspirations and feel a sense of belonging benefits our people, our company and the regions where we live and work. We embrace and encourage different perspectives and approaches, which help us make better business decisions. We believe that through this approach, we can solve challenges, seize opportunities and unlock innovative solutions. To achieve an unbiased and respectful workplace, individuals are evaluated based on qualifications, merit and abilities, and we encourage applications from all qualified candidates. We also acknowledge the value of transferrable skills and may consider equivalent combinations of experience and education should you not meet a specific requirement.

Title and compensation administration will be based on the skills and capabilities of the successful incumbent.

We’re a Canadian-based integrated energy company headquartered in Calgary. We’re committed to maximizing value by developing our assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into our business plans. We operate in Canada, the United States and the Asia Pacific region. Our operations include oil sands projects in northern Alberta, thermal and conventional crude oil and natural gas projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and liquids production offshore China and Indonesia. Cenovus’s downstream operations include upgrading, refining and marketing operations in Canada and the United States. Our shares trade under the symbol CVE, and are listed on the Toronto and New York stock exchanges.