What Do Loss Prevention Managers Do (including Their Typical Day At Work)

Job Description

Loss Prevention Managers plan and direct policies, procedures, or systems to prevent the loss of assets. Determine risk exposure or potential liability, and develop risk control measures. They also coordinate or conduct internal investigations of problems such as employee theft and violations of corporate loss prevention policies.

Other tasks include:

• Administer systems and programs to reduce loss, maintain inventory control, or increase safety.
• Review loss prevention exception reports and cash discrepancies to ensure adherence to guidelines.
• Train loss prevention staff, retail managers, or store employees on loss control and prevention measures.
• Investigate or interview individuals suspected of shoplifting or internal theft.
• Provide recommendations and solutions in crisis situations such as workplace violence, protests, and demonstrations.
• Identify potential for loss and develop strategies to eliminate it.

We asked Loss Prevention Managers how satisfied they are with their job. Here is what they said.

75% of them said they were satisfied with their job and 62% said they find that their job makes the world a better place or helps to make someone else’s life better.

Typical Day At Work

On a daily basis, Loss Prevention Managers review loss prevention exception reports and cash discrepancies to ensure adherence to guidelines. They maintain documentation of all loss prevention activity.

A typical day for a Loss Prevention Manager will also include:

• Monitor compliance to operational, safety, or inventory control procedures, including physical security standards.
• Maintain databases such as bad check logs, reports on multiple offenders, and alarm activation lists.
• Train loss prevention staff, retail managers, or store employees on loss control and prevention measures.
• Hire or supervise loss prevention staff.
• Administer systems and programs to reduce loss, maintain inventory control, or increase safety.

We asked some Loss Prevention Managers a few questions to find out what else does their work day look like. Here is what we found.

Other responsibilities

Besides their typical day, Loss Prevention Managers also advise retail establishments on development of loss-investigation procedures. They may also coordinate or conduct internal investigations of problems such as employee theft and violations of corporate loss prevention policies.

On a weekly to monthly basis, Loss Prevention Managers Develop and maintain partnerships with federal, state, or local law enforcement agencies or members of the retail loss prevention community. They might also Verify correct use and maintenance of physical security systems, such as closed-circuit television, merchandise tags, and burglar alarms.

In addition, they Perform cash audits and deposit investigations to fully account for store cash.

Although specific duties may vary, many of them Recommend improvements in loss prevention programs, staffing, scheduling, or training.

To some Loss Prevention Managers, it is also their responsibility to Monitor and review paperwork procedures and systems to prevent error-related shortages.

Working life

More than 40 hours per week

Regular schedule like a 9 to 5

In a typical work week as a Loss Prevention Manager, you can expect to work more than 40 hours per week.

Is this right for me

People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business..

They also like following set procedures and routines. They like working with data and details more than with ideas.

You can read more about these career personality types here.

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