A loss prevention specialist will most commonly work in the retail industry. The basic responsibilities typically involve dealing with product security and asset protection. Preventing employee theft is another aspect of working as a loss prevention specialist.
In retail or other situations, the loss prevention specialist will implement the policies that monitor the activities of employees and customers within a business or company. Such scanning and supervision may be conducted through the use of security cameras. The loss prevention specialist will also use other strategies to secure assets, including regular inspection of merchandise and equipment.
Another responsibility of the loss prevention specialist is to perform regular audits. The loss prevention person or team may examine financial records. He will typically do an extensive walk through of the company premises, primarily where goods, products, or merchandise is stored or displayed for purchase.
The loss prevention specialist also is responsible to improve asset security. He will identify potential flaws in a store's design or organization. For instance, a retail store display may be arranged in such a way that it might compromise security. If the loss prevention team sees this as an easy opportunity for shoplifting, he may consult with the store manager. Together they may initiate a more effective plan that could deter shoplifters and prevent theft.
To ensure efficient operations within a company or store, loss prevention specialists may manage payroll expenses. He may also implement innovative procedures to prevent theft. He may recommend the use of sophisticated equipment or initiate safety programs to educate employees and management.
In many cases, a loss prevention specialist manager may hire new employees. He will typically have several years experience related to loss prevention work. Loss prevention supervisors will also train newcomers in the field.
If security systems and alarms are used within the company or store, loss prevention workers may routinely check the equipment. The inspection will consist of checking for defects or identifying operational issues. He may conduct audits of shrink logs and production logs to determine where asset loss may be reduced.
Loss prevention managers and specialists may also work directly with the human resources department. Together they may assess workers' compensation data and reports. Implementing higher safety standards and creative ways to ensure employee safety may be other responsibilities.
Regional loss prevention specialists may report to executive directors within a region. As a regional specialist, he may be responsible for numerous stores or companies within his district. Some traveling will typically be required for regional loss prevention managers.