Roles and Responsibilities of a Loss Prevention Manager
- Prevent Theft and Shrinkage
- Develop and implement loss prevention strategies.
- Investigate internal and external theft.
- Monitor inventory shrinkage and identify root causes.
- Recommend corrective actions to minimize losses.
- Conduct Investigations
- Investigate employee misconduct, fraud, and policy violations.
- Gather evidence through CCTV footage, interviews, and documentation.
- Prepare investigation reports and maintain confidential records.
- Coordinate with law enforcement when required.
- Monitor Security Systems
- Oversee CCTV, access control, alarm systems, and security equipment.
- Ensure all security systems are functioning effectively.
- Review surveillance footage to identify suspicious activities.
- Risk Assessment and Compliance
- Conduct regular security audits and risk assessments.
- Ensure compliance with company policies and legal regulations.
- Identify vulnerabilities and implement preventive measures.
- Inventory Control
- Monitor inventory accuracy and stock movements.
- Support cycle counts and physical inventory audits.
- Investigate inventory discrepancies and recommend improvements.
- Employee Training
- Train employees on loss prevention policies and security procedures.
- Promote awareness of fraud prevention and workplace safety.
- Conduct refresher training and compliance sessions.
- Incident Management
- Respond promptly to security incidents and emergencies.
- Prepare incident reports and recommend corrective actions.
- Coordinate emergency response procedures when necessary.
- Vendor and Contractor Security
- Monitor vendor and contractor activities.
- Ensure adherence to security protocols during deliveries and site visits.
- Investigate supplier-related losses or irregularities.
- Data Analysis and Reporting
- Analyze loss trends, shrinkage reports, and incident data.
- Prepare weekly and monthly reports for senior management.
- Track key performance indicators (KPIs) related to loss prevention.
- Team Leadership
- Supervise and mentor loss prevention officers and security personnel.
- Schedule staff and monitor performance.
- Foster a culture of accountability and continuous improvement.
Key Skills
- Investigation and interviewing techniques
- Risk assessment and problem-solving
- Knowledge of CCTV and electronic security systems
- Inventory and audit management
- Fraud detection and prevention
- Leadership and team management
- Strong analytical and reporting skills
- Communication and conflict resolution
- Knowledge of legal and regulatory requirements
- Proficiency in Microsoft Excel and reporting tools
Typical KPIs
- Reduction in inventory shrinkage
- Number of theft/fraud cases resolved
- Inventory accuracy percentage
- Audit compliance score
- Incident response time
- Recovery value from investigations
- Employee compliance with security procedures
- Safety and security incident reduction
Pay: ₹459,191.94 - ₹2,007,136.29 per year
Benefits:
Work Location: In person
