Work with companies to find out how theft is happening and help stop it.
What does a Loss Prevention Analyst do?
A Loss Prevention Analyst works to prevent theft. While most people in this position work in a retail setting, keeping merchandise safe from thieves, others are employed by insurance companies and banks where they endeavor to prevent theft by fraud.
If you work in a retail setting, you look at reports comparing sales to inventory and identifying losses. Sometimes, you play the role of Private Investigator, reviewing surveillance tapes and looking for your stolen merchandise on the internet.
You may also put together training programs for employees to help them learn to spot and stop theft while it’s occurring. You investigate and install equipment such as cameras and security tags to help prevent theft. Additionally, you inspect stores from time to time to check if employees are following your suggestions.
If you work for a bank or an insurance company, you spend less time on your feet and more time at the computer. You look over reports of new accounts to check for fraud. You also examine overdrawn accounts, trying to determine if the overdraft was caused by fraud or just a lack of math skills. Finally, you help your company tighten up paperwork to make it difficult for fraud to succeed.
A Loss Prevention Analyst spends much of the day looking for people who lie, cheat, or steal. While this type of work could make some people cynical, the best Loss Prevention Analysts think of themselves as guardian angels, preventing people from making mistakes and committing crimes that could land them in jail.