What do Loss Prevention Managers do?
Plan and direct policies, procedures, or systems to prevent the loss of assets. Determine risk exposure or potential liability, and develop risk control measures.
- Identify potential for loss and develop strategies to eliminate it.
- Advise retail managers on compliance with applicable codes, laws, regulations, or standards.
- Administer systems and programs to reduce loss, maintain inventory control, or increase safety.
- Supervise surveillance, detection, or criminal processing related to theft and criminal cases.
- Train loss prevention staff, retail managers, or store employees on loss control and prevention measures.
- Analyze retail data to identify current or emerging trends in theft or fraud.
- Collaborate with law enforcement to investigate and solve external theft or fraud cases.
- Assess security needs across locations to ensure proper deployment of loss prevention resources, such as staff and technology.
- Monitor and review paperwork procedures and systems to prevent error-related shortages.
- Coordinate theft and fraud investigations involving career criminals or organized group activities.
- Monitor compliance to operational, safety, or inventory control procedures, including physical security standards.
- Review loss-prevention exception reports and cash discrepancies to ensure adherence to guidelines.
- Advise retail establishments on development of loss-investigation procedures.
- Develop and maintain partnerships with federal, state, or local law enforcement agencies or members of the retail loss prevention community.
- Perform cash audits and deposit investigations to fully account for store cash.
- Direct loss prevention audit programs including target store audits, maintenance audits, safety audits, or electronic article surveillance (EAS) audits.
- Hire or supervise loss-prevention staff.
- Verify correct use and maintenance of physical security systems, such as closed-circuit television, merchandise tags, and burglar alarms.
- Provide recommendations and solutions in crisis situations such as workplace violence, protests, and demonstrations.
- Direct installation of covert surveillance equipment, such as security cameras.
- Perform or direct inventory investigations in response to shrink results outside of acceptable ranges.
- Coordinate or conduct internal investigations of problems such as employee theft and violations of corporate loss prevention policies.
- Investigate or interview individuals suspected of shoplifting or internal theft.
- Maintain documentation of all loss prevention activity.
- Recommend improvements in loss prevention programs, staffing, scheduling, or training.
- Visit stores to ensure compliance with company policies and procedures.
- Maintain databases such as bad check logs, reports on multiple offenders, and alarm activation lists.
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