Are ISDA documentation specialists on the cusp of an extinction event?
ISDA documentation isn’t the most glamorous or the best paid job to be had in investment banking, but it’s not that awful either. According to the most recent Robert Walters salary survey (page 15), an ISDA documentation person with 3+ years’ experience, can command a salary of £40-55k, which is up to £7k more than someone working in listed derivatives clearing and settlements. ISDA documentation professionals also have the very big benefit of almost always being desirable. “It’s always a busy area, no matter what the broader market is like,” says Malcolm Clark, managing director of recruiters Bayley Needham. “ISDA documentation specialists are always in demand,” confirms Oliver Harris at Robert Walters. It’s unfortunate, therefore, that a large body of regulatory rock is about to fall on this happy scene. The regulatory reform bill passed by The US Senate last week included a provision to push as much OTC derivatives trading as possible onto exchanges, electronic platforms, and into e
