A loss prevention manager’s primary job is to keep a company’s assets protected by various theft and fraud. For example, a company can experience a loss in assets from customer’s (or employees) shoplifting. The cause of the loss does not necessarily have to be intentional either. A loss could show due to inaccurate inventory records as well. A loss prevention manager ensures processes and procedures are in place to protect a company’s assets and continually evaluates procedures for improvements.
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How to Become a Loss Prevention Manager
Though a bachelor’s degree is not a requirement, O*Net OnLine reports that over half of all surveyed loss prevention managers hold at least a bachelor’s degree in a field such as criminal justice. The rest of those surveyed have some college or have earned an associates degree. In addition to a degree, a loss prevention manager would need several years of experience as a loss prevention specialist to become promoted to the management position. Employers also prefer that a applicant’s experience match the industry they are applying for. For example, if you are applying for a loss prevention management job at a retail company, that retail company would most likely like to see experience in the retail industry.
Job Description of a Loss Prevention Manager
Loss prevention managers have many different tasks to accomplish in any given day. They could train new loss prevention specialists, evaluate the effectiveness of their efforts to prevent loss, and even investigate the root cause of loss. They would also collaborate with law enforcement when necessary. Loss prevention managers in retail stores may also walk the floor undercover and ensure surveillance equipment is placed in proper locations to ensure security.
Loss Prevention Manager Career Video Transcript
Some people seem to have a sixth sense about when something is not quite right or when something is about to go wrong. Loss prevention managers have this special talent. They work with policies and practices to keep a company’s assets from illegally heading out the door.
Loss prevention managers monitor shrinkage or how much of a product is missing from inventory. To do this, they track the products going in and out of the store, and where they detect losses, they plan ways to reduce shrinkage. For example, they might reward employees who help catch shoplifters or monitor an area where products are going missing.
These managers need integrity and courage to anticipate and interrupt theft, vandalism, and burglary. They often interview those involved to investigate losses, then work with store and law enforcement personnel to resolve issues. Are you ready to be on the move? Loss prevention managers usually train and supervise staff, sometimes at multiple locations, so this is a job that may require travel. Otherwise, they spend lots of time in the office filing, processing reports, and evaluating loss prevention systems.
Requirements to enter this field vary depending on the employer; for some a high school diploma and on-the-job training is all that’s needed, while others require a bachelor’s degree in criminal justice.
National Center for O*NET Development. 11-9199.08. O*NET OnLine.
The career video is in the public domain from the U. S. Department of Labor, Employment and Training Administration.