Assistant Director, Cost Transformation/Operational Restructuring

EY; Greater London; On-site; GBP 120,000 - 170,000; Full time

Job summary

EY-Parthenon is seeking an Assistant Director (Senior Manager) to lead and deliver cost transformation and operational restructuring initiatives for a diverse client base. You will work at pace in fast‑moving environments, guiding senior stakeholders from boards to lenders through strategic transformations to improve profitability and cash flow.

In this role, you’ll shape value-driven strategies, own end-to-end workstreams, and contribute to business development while coaching junior team

Qualifications

• Specialism in at least three areas: professional services/consulting, cost transformation, operational restructuring.
• Experience in value creation in transactions, including carve outs/separations or integrations.
• Strong analytical skills linking operational drivers to P&L, cash, and balance sheet impacts.

Responsibilities

• Lead project delivery teams and mentor junior members.
• Advise clients across sectors to develop and implement cost transformation and restructuring strategies.
• Produce clear, concise executive reports and client-ready recommendations.

Skills

Project Delivery

Financial Analysis

Business Acumen

Value Creation

Report Writing

Business Development

Stakeholder Management

Leadership

Job description

Assistant Director (Senior Manager) (Operational Strategy) – Cost Transformation & Operational Restructuring, Strategy and Execution, EY-Parthenon

At EY, we’re all in to shape your future with confidence.

We’ll help you succeed in a globally connected powerhouse of diverse teams and take your career wherever you want it to go.

Join EY and help to build a better working world.

The Opportunity

At EY-Parthenon (EY-P), our unique combination of transformative strategy, transactions, tax and corporate finance delivers real-world value – solutions that work in practice, not just on paper. Benefiting from EY’s full spectrum of services, we’ve reimagined strategic consulting to work in a world of increasing complexity. With deep functional and sector expertise, paired with innovative AI-powered technology and an investor mindset, we partner with CEOs, boards, private equity and governments every step of the way.

The Operational Strategy practice within EY-Parthenon provides clients with pragmatic, results‑oriented solutions that drive efficiency and performance improvement, helping solve their most significant financial and operational challenges.

Core pillars of our offering are Cost Transformation and Operational Restructuring, encompassing rapid transformation for organisations requiring strategic or structural change to their cost base or business performance/operations.

We develop strategies that optimise operations and enhance overall business value, leveraging deep sector and functional expertise, including:

• Cost Transformation - including use of ‘Zero based principles’ to optimise Opex and Capex.
• Turnaround / Operational Restructuring - including accelerated cost out, crisis management.
• Fix‑Sell‑Close - i.e. developing and implementing strategic restructuring options for underperforming subsidiaries, geographies or business areas.
• Value Realisation – i.e. hands‑on management of delivery and financial impacts in cost reduction and/or turnaround programmes.

Our teams work closely with executive leadership (across most sectors) to identify impactful performance improvement opportunities (incl. quick wins), develop actionable delivery plans, and lead/support implementation at pace.

Your key responsibilities

As an Assistant Director you'll advise clients across a variety of sectors, supporting key decision makers (e.g. Board, C‑suite, lenders, investors) in developing and implementing strategic transformations. This role involves hands‑on delivery in fast‑moving, high‑pressure situations, often working with incomplete information and tight stakeholder timelines.

You will be expected to lead project delivery teams, working with senior client stakeholders within tight timeframes for some of EY’s most demanding clients. As a consultant you’ll advise clients across all sectors, supporting key decision makers in developing and executing strategies for value creation and cost reduction. Given the client‑facing nature of the role, strong interpersonal and communication skills are essential to effectively engage with clients and pragmatically address their needs, including the production of clear, concise, executive‑ready reports and recommendations.

You will be expected to operate with a high degree of independence, owning cost transformation and operational restructuring workstreams end‑to‑end and translating operational insights into clear financial outcomes (EBITDA, cash, CAPEX, risk).

We expect Assistant Directors to play a leading role in new business development efforts by supporting on pitches/pursuits and preparing compelling go‑to‑market collateral.

You will also help shape the Cost Transformation and/or Operational Restructuring value proposition within the wider Operational Strategy team, contributing to thought leadership and practice growth.

We expect you to establish, maintain and strengthen internal and external relationships to help build the profile of our team. As an important member of a small and growing team, you would be expected to take a leading role in practical efforts to grow the practice and in coaching and counselling junior team members to help them develop.

Skills and attributes for success

• Project Delivery – Ability to lead project delivery teams, driving transformational change at pace, managing project teams, and overseeing engagement management (e.g. project commercials and risk management) with direct ownership of cost transformation and/or operational restructuring related workstreams or projects (size / complexity dependant).

• Financial Analysis – Excellent financial analysis skills, including ability to oversee/review analysis of other team members, quickly identify key insights, and link operational drivers to P&L, cash and balance sheet impacts.

• Business and Commercially Driven – Track record for working in a fast‑paced environment, while leveraging strong business acumen to add value to clients.
• Value Creation: Ability to identify the key strategic priorities / challenges facing our clients and pragmatically develop solutions or actions to address them.
• Report Writing – Ability to produce clear, concise, and client‑ready reports that effectively communicate complex findings and recommendations to senior stakeholders.
• Business Development – Credibility to support business origination, including pitches and presentations. Initiative to contribute to our practice development initiatives, supporting the continued focus on our team as a great place to work.
• Learning – Strong desire to develop technical and personal skills to support achievement of career goals, through a blend of structured learning, coaching and client experiences.
• Stakeholder management and communication – Ability to effectively engage and manage stakeholders by tailoring communication to influence, align, and drive outcomes. Ability to build trust through clear, concise, and proactive updates.
• Role Model – Enthusiasm and ability to act as a role model supporting the development and coaching of junior team members.

To qualify for the role you must have

Specialism / experience in at least three of these areas:

• Professional services / consulting.
• Cost Transformation: experience in cost reduction programmes, zero-based budgeting, value realisation, capex and opex cost optimisation (cross‑sector).
• Operational Restructuring: experience in turnaround, strategic options assessments, crisis management, and/or exit / closure implementations (cross‑sector).

• Value creation in transactions, including carve outs/separations or integrations.

• Strong analytical skills, with the ability to link operational analysis to financial statements, and understand the implications of findings to client strategy.

Ideally, you’ll also have

• Experience in building strong working relationships with senior clients, including influence, advice and support to key decision makers.
• Experience in supporting sales and business development processes for professional services projects in a large‑scale consulting environment.
• A track record of successful project delivery in corporate businesses where you are responsible for managing project team members and vendors.
• Strong written and verbal communication skills and experience of producing and reviewing high calibre reports, papers, presentations and thought leadership.

What we offer you

We will fuel your ambition and potential with future‑focused skills development that equips you with state‑of‑the‑art methodologies and technology‑enabled solutions. With more than 25,000 people in 150 countries, you will join an inclusive and empowering culture that values your uniqueness, prioritizes your wellbeing, and immerses you in the diverse thinking and cross‑cultural experiences necessary to help deliver impact to clients across the globe and to help build a better working world. Learn more about careers at EY-Parthenon.

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