The main role of the loss prevention manager is to ensure profits by preventing losses that occur through internal or external theft, fraud, accident, or abuse; it is often referred to as "shrink." Loss prevention managers are must constantly be on watch for shrink. Along with finding out the reasons that shrink may be occurring, they must constantly create and implement security and safety procedures that will reduce losses for the company. Since theft includes stolen items and robberies, the loss prevention mangers needs to work closely with upper management in the store and with law enforcement in the area.
Loss Prevention Manager Tasks
Audit sites to ensure inventory is processed, handled, and monitored appropriately, and document any errors or failures.
Develop policies and train staff in loss prevention, reduce shrinkage, and use tagging and/or report mechanisms.
Investigate, log, and resolve alleged and actual theft, violations of policy, and compliance concerns.
Coordinate and communicate with management and governmental agencies to act appropriately and legally.