As a Regional Loss Prevention Manager, there are a lot of responsibilities both in managing and leading the company through a process of loss prevention. Some of them are as follows:
- Develop strategy for reducing the risk of loss and increasing the company's profit.
- Check the loss prevention reports regularly and improve the methods which suit all of the stores in the region
- Research the market thoroughly in case of a loss and implement new strategies that lead to loss reduction.
- Train the team members and the employees of the stores about the policies of loss prevention.
- Organize group sessions including all the store's employees to bring out the ideas an build a perfect and rigid strategy against future loss.
- Monitor the Profit and Loss Statements in all the stores and control the excess expenses related to the Chargeback and Overages and Shorts.
- Recruit Loss prevention agents and develop their status to achieve best revenue returns in the stores in the region.
- Design and Monitor the Loss prevention system which includes the prevention of shoplifting and internal theft, and ensure that the arrangements are fully operational, periodically maintained and utilized to the ultimate extent including burglary alarms, CCTV Cameras, bar code lock, etc.
- Create well planned fire suppression techniques and very fast evacuation systems for all the offices and the warehouses of the stores in the region.
- Investigate all the theft or loss associated incidents, allegations of dishonesty by associates or other non-associate service providers (such as truck drivers, maintenance, etc.) and any other type of security incidents occurring in the distribution center.
- Participate in the accounting and preparation of Statements regarding the Profit & Loss submits to the Director of the Loss Prevention Division.
An Associate's or Bachelor's Degree in Business Administration or an appropriate field of study. Candidates may also have a Bachelor of Science in Criminal Justice and enforcements. Certification in the field is necessary for facing Interviews. Knowledge of Cross-examining techniques is an added advantage to the candidates.
Skills Sets and Training
- Expertise in management and leadership to develop the organized loss prevention methods and execute appropriately.
- Ability to generate policies and procedures to overcome the loss at complex situations.
- Knowledge of the Criminal and Civil Law which relates to the Retail Store's Business
- High knowledge in the management theories about the Loss Prevention and implement effectively to the current circumstances.
- Effective knowledge and recognizing of the analytical reports developed by the BIW.
- Technical Knowledge about the latest electronic security systems and advantages of those systems.
- Efficient knowledge in the software packages like Microsoft Office Tools, SAP and some project planning software.
- Ability to travel regularly and check the stores in the assigned regions.
- Knowledge of the evacuation plans and corporate safety programs and familiarity with the prevention of fire accidents.
- Effective utilization of all resources and maintaining up to date reports.
- Capacity to recruit new staff and having high interrogation skills
- Excellent communication skills
- Ability to train the employees and speak in public surroundings
- Ready to work dynamically in all departments in the Stores.
The Regional Loss Prevention Manager requires an extended knowledge acquired through years of work experience. Companies require candidates to have a minimum of 3-5 years of experience in the field of Loss Prevention or related fields. Candidates should have an experience in the handling of multiple division retail environments as well.
Career Prospects (globally)
A Regional Loss Prevention Manager can have appraisals depending on his/her methods which lift the employing company to a higher level of performance and extended profits thereby reducing the losses. A Regional Loss Prevention Manager can be promoted as the Director of the Regional committee. It's a high risk job and hence candidates with a high enthusiasm to work under a busy schedule should only enter this field.
The average salary of a Regional Loss Prevention Manager is about $80,000 per year. The salary varies with the experience and the knowledge of the candidates.
This is a job that needs individuals to be up and going on their toes all the time with an exact aptitude to ensure perfect loss prevention measures for the organization. This is an immensely responsible job and a lucrative one as well.