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Collateral Processor Jobs in Cleveland, OH (NOW HIRING)

KURV

Senior Merchant Underwriter

Cleveland, OH

$95K - $113K/yr

Develop and implement strategies to mitigate credit risk, including recommending collateral requirements or processing limits. * Monitor payment behaviors and take appropriate action in cases of ...

Bellwether Enterprise

Portfolio Analyst

Cleveland, OH · On-site

... collateral of the Servicing Portfolio. The Portfolio Analyst will implement day-to-day risk ... Manage letter campaign process to notify Borrowers of submission requirements. * Monitor and track ...

Bellwether Enterprise

Portfolio Analyst

Cleveland, OH · On-site

... collateral of the Servicing Portfolio. The Portfolio Analyst will implement day-to-day risk ... Manage letter campaign process to notify Borrowers of submission requirements. * Monitor and track ...

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All JobsCollateral Processor JobsCollateral Processor Jobs in Cleveland, OH

Collateral Processor information

See Cleveland, OH salary details

$8

$16

$25

How much do collateral processor jobs pay per hour?

As of Jul 19, 2026, the average hourly pay for collateral processor in Cleveland, OH is $16.24, according to ZipRecruiter salary data. Most workers in this role earn between $13.08 and $18.65 per hour, depending on experience, location, and employer.

What are Collateral Processors?

Collateral Processors are professionals in the banking or financial industry responsible for handling and managing collateral documents tied to loans, mortgages, or other secured transactions. Their duties include verifying documentation, ensuring compliance with regulations, and maintaining accurate records to protect the lender's interest. They often coordinate with loan officers, title companies, and borrowers to ensure all collateral requirements are met before and after loan closing. Collateral Processors play a key role in minimizing risk for financial institutions by ensuring collateral is properly documented and secured.

What jobs pay 500,000 a year in the US?

In the US, high-paying roles such as senior executives, investment bankers, specialized surgeons, and certain technology executives can earn $500,000 or more annually. These positions often require advanced degrees, extensive experience, and leadership responsibilities, and may include bonuses or stock options that significantly increase total compensation.

What jobs in the US pay 300,000 a year?

For a Collateral Processor, earning $300,000 annually is uncommon, as this role typically offers lower compensation. High-paying jobs in finance, executive management, or specialized medical fields are more likely to reach this level, often requiring advanced skills, certifications, and extensive experience. Most roles paying this salary are senior-level or highly specialized positions.

What are the key skills and qualifications needed to thrive as a Collateral Processor, and why are they important?

To thrive as a Collateral Processor, you need strong attention to detail, organizational skills, and a solid understanding of loan documentation and banking procedures, often supported by a high school diploma or equivalent. Familiarity with loan origination systems, document management software, and compliance tools is typically required. Excellent communication, problem-solving, and time management skills help you coordinate effectively with internal teams and clients. These competencies ensure accurate processing, regulatory compliance, and efficient workflow in financial institutions.

What is the difference between Collateral Processor vs Loan Processor?

AspectCollateral ProcessorLoan Processor
Primary RoleReviewing and verifying collateral documentation for loansProcessing loan applications and verifying borrower information
CertificationsTypically requires banking or finance certificationsOften requires similar certifications, such as loan processing or banking credentials
Work EnvironmentBanking institutions, mortgage companies, financial servicesBanks, mortgage lenders, credit unions
Common TasksAssessing collateral documents, ensuring complianceGathering documents, verifying borrower data, preparing loan files

While both roles operate within the financial industry, a Collateral Processor specializes in verifying collateral documentation for loans, whereas a Loan Processor handles the overall loan application process. Understanding these distinctions helps in choosing the right career path or job search focus.

What is the highest paying job in the mortgage industry?

In the mortgage industry, senior roles such as Mortgage Vice Presidents, Chief Underwriters, or Regional Managers tend to have the highest salaries. These positions often require extensive experience, leadership skills, and industry knowledge, and they can earn six-figure incomes depending on the company and location.

What are the typical challenges faced by a Collateral Processor, and how can they be addressed effectively?

Collateral Processors often work in fast-paced environments where attention to detail is critical due to frequent handling of sensitive financial documents. Common challenges include managing tight deadlines, ensuring data accuracy, and keeping up with regulatory changes. To overcome these, it's important to develop strong organizational skills, maintain clear communication with team members and other departments, and stay updated on industry compliance requirements. Utilizing workflow management tools and regularly reviewing procedures can also help minimize errors and streamline processes.

What jobs make $1,000,000 a year?

In the context of a collateral processor or related finance roles, earning $1,000,000 annually is uncommon and typically limited to high-level executive positions such as chief financial officers or investment bankers, or successful entrepreneurs. These roles often require extensive experience, advanced skills, and sometimes ownership stakes or bonuses tied to company performance.
What are popular job titles related to Collateral Processor jobs in Cleveland, OH? For Collateral Processor jobs in Cleveland, OH, the most frequently searched job titles are:
What job categories do people searching Collateral Processor jobs in Cleveland, OH look for? The top searched job categories for Collateral Processor jobs in Cleveland, OH are:
Collateral Processor jobs near you
Infographic showing various Collateral Processor job openings in Cleveland, OH as of July 2026, with employment types broken down into 92% Full Time, 7% Part Time, and 1% Contract. Highlights an 92% Physical, 3% Hybrid, and 5% Remote job distribution, with an average salary of $33,772 per year, or $16.2 per hour.
Senior Specialist- Commercial Lending

Senior Specialist- Commercial Lending

KeyBank

Brooklyn, OH • On-site

$20.67 - $31.25/hr

Full-time

Re-posted 7 days ago

KeyBank rating

8.4

Company rating: 8.4 out of 10

Based on 96 frontline employees who took The Breakroom Quiz

34th of 149 rated banks

Job description

Location:
4910 Tiedeman Road, Brooklyn Ohio
Hours: Monday-Friday from 8am-5pm
Location: This is a hybrid opportunity which will require 2 days in office per week.
Training: Will be onsite for the first week
This position is responsible for the review of loan documentation for complex commercial loan clients and the booking of basic commercial loans. The incumbent will participate as a team member dedicated to supporting the growth and servicing of the Specialty lines of business and providing the highest quality of customer service to internal and external clients.
ESSENTIAL JOB FUNCTIONS
  • Reviews loan document packages and ensures all documents are present to ensure Bank's position.
  • Identifies and cites loan exceptions as appropriate to ensure the communication of documentation issues.
  • Able to interpret and book collateral associated with complex commercial loans.
  • Book basic commercial loans, including lines for Letters of Credit and bought participations.
  • Identify simple contradictions in documentation/booking requests and seek resolution from RM and/or Credit Officer.
  • Facilitates simple validation of borrowing entity.
  • Ability to work in on-line, image enabled work queues to ensure timely processing of tasks.
  • Effective utilization of "dual monitor" environment.
  • Ability to work in and support virtual team environment.
  • Cross-site partnering
  • Best practice sharing.
  • Accurate identification and indexing of task related documents.
  • Answer customer's basic questions and inquiries.
  • Prioritize work for self and team.
  • Be committed to continuous improvement.
  • Effective use of on-line queues to ensure timely processing of tasks.
  • Ability to work in on-line imaged enabled work queues.
  • Effective utilization of dual monitor environment.
  • Support of virtual team environment.
  • Accurate identification and indexing of task related documents.
  • Cross-site partnering.
  • Best practice sharing.
  • Research requests to a correct conclusion and effectively communicate the results.
  • Attend and participate in documentation and booking classes.
  • Able to identify simple contradictions in documentation/booking requests and seek resolution from RM and/or Credit Officer.
  • Facilitates simple validation of borrowing entity.
  • Apply basic accounting principles.
  • Consult with internal client(s) and be able to apply discretionary judgment to accommodate documentation and booking inquiries.
  • Act as team champion to assist team members.
  • Review and book the most complex loans, which include all restructured and non-performing assets.
  • Understand and translate complex loan booking instructions.
  • Partner with LOB and other operational areas to reach common goals.
  • Build a network of internal/external resources to help achieve his/her goals.
  • Take an active approach with clients in Sales and Credit Administration areas toward problem resolution.
  • Act as Trusted Advisor with internal clients.
  • Obtain and maintain a thorough knowledge of legal rules.
  • Takes a leadership role in Loan Services, displaying a positive and motivating attitude.
  • Participates in evaluating workflow to maximize productivity.
  • Proactive in identifying process improvements to continually improve customer relations and satisfaction.

REQUIRED QUALIFICATIONS
  • High School Diploma or equivalent.
  • Knowledge of accounting principles.
  • Ability to work under pressure and meet deadlines.
  • Ability to make basic judgments and decisions.
  • Good understanding of loan documentation and regulations relating to loans, as well as knowledge/experience of the loan accounting systems, monetary processing and some system maintenance functions.
  • Proven strong customer service skills and work ethic.
  • Proven analytical skills.
  • Open minded and adaptable to new ideas in a changing environment.
  • Expertise on accounting systems.
  • Advanced knowledge of commercial loan documentation.
  • Advanced knowledge of loan booking systems (commercial loan accounting system, as well as ancillary systems that provide support to commercial loans).
  • Knowledge of commercial/consumer credit policies, products, and compliance regulations.
  • Strong communication skills, both verbal and written.
  • Fully embraces the high performing team concepts of empowerment, mutual success, and accountability.
  • Obtain and maintain a thorough understanding of legal rules.
  • Ability to perform and participate in process and product projects.

SYSTEM PROFICIENCY
  • Laser Pro Lending
  • AutoLoan Booking
  • Doc Log
  • Windows and MS Office Products (Word, Excel)
  • Lotus Notes
  • CLS
  • Hogan
  • ALS Negotiable Collateral Database
  • KeyNet/Key for Business/Key Bulletins
  • Basic internet comprehension
  • Credit Write-Up Approval (CWA) on RMW platform
  • Small Business Underwriting (SBU)
  • CRINT (Credit Interface with CWA and SBU)
  • Obligor Database
  • Loan IQ
  • KVD (KeyView Deluxe)

COMPENSATION AND BENEFITS
This position is eligible to earn a base hourly rate in the range of $20.67 - $31.25 per hour. Placement within the pay range may differ based upon various factors, including but not limited to skills, experience and geographic location. Compensation for this role also includes incentive compensation which may include production, commission, and/or discretionary incentives.
Please click here for a list of benefits for which this position is eligible.
Key has implemented an approach to employee workspaces which prioritizes in-office presence, while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.
Job Posting Expiration Date: 07/31/2026KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, pregnancy, disability, veteran status or any other characteristic protected by law.
Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.
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About KeyBank

Sourced by ZipRecruiter

Key is one of the nation's largest bank-based financial services companies. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Cleveland, OH, US

Year founded

1849

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