Asset Protection Specialist | What Is It, What They Do, How To Become One, Salary, Requirements And Qualifications

It is of utmost significance that you protect your business from theft, fraud or any form of malicious attempt that will inhibit the growth of your business. Thus, to successfully do this, you’d need the service of an asset protection specialist.

Hence, retailers will often employ an asset protection specialist to minimize theft and protect their assets. This job line comes with a very decent salary expectation with a minimal education requirement to start with. Therefore making it easier to secure employment.

Meanwhile, understanding the major roles of an asset protection specialist makes it easier to chase the career path. Hence, herein this article, our group of professionals have dedicated valuable time to enlighten us about the position of an asset protection specialist in an industry or organization, their roles, how to become one and many more.

However, if at the end of going through this article, your purpose of the search or query was not met or is still left unanswered, I’d advise you use the comment box at the tail end of this article. We are prompt in response and will ensure your queries are answered.

What Is an Asset Protection Specialist?

An Asset Protection Specialist, also known as a Loss Prevention Specialist, is one whose duty is to protect financial assets of their clients and prevent loss primarily that might occur through theft or fraud. The position usually involves actively working on seeking out parts of the company which are at risk of inventory shrinkage or potential financial loss risks, and suggesting solutions.

In this career, the personnels are expected to use loss prevention technology. Qualifications may include experience with security cameras and RFID (Radio Frequency Identification) chips embedded in high-value assets and products.

What are the Essential Duties and Responsibilities of an Asset Protection Specialist?

Daily job duties and responsibilities include the following:

Improving security methods.
Keeping up with trends in security.
Training store associates in loss prevention
Working on the store floor, and inspecting the store inventory.

Other necessary skills include filing case reports, providing evidence, and interacting with law enforcement, sometimes in court.

What Does An Asset Protection Specialist Do?

Assets protection specialists monitor suspicious behavior in persons. They also do this through television cameras. While they spend most of their time in a room watching camera footage. They also have plenty of other duties. Here are some of the duties of an assets protection specialist:

Identify incidents of theft and fraud.
Use loss prevention technology.
Audit store departments.
Preserve evidence.
Ensure store personnel do their best to control theft.
Improve a retail store’s security methods.
Review security footage and exception reports.
Testify in criminal and civil court actions.
Monitor a store’s physical security.
Train store associates on loss prevention strategies.
Inspect store inventory.
Prepare accurate and detailed case reports detailing apprehensions and recoveries.
Confront potential shoplifters and make the store’s security presence known.
Apprehend and detain potential shoplifters.
Work alongside detectives and criminal investigators to solve major theft incidents or other retail crimes.
Stay up-to-date with security trends.
Communicate with law enforcement and store management.
Report unsafe conditions to the store’s manager.
Respond to asset protection and operational concerns from company associates.

Necessary Skills Required To Become An Asset Protection Specialist

To become an asset protection specialist, there are some necessary skills you have to exhibit in order to successfully carry out your work. Thus, we have highlighted some of those skills herein below;

You must have a good communication skills
Possess good observation skills
Must exhibit physical fitness
Have a calm demeanor
Have a good technology know-how
Bilingual communication skills is a plus
Pay attention to detail
De-escalation skills

How Much Do Asset Protection Specialist Earn?

Assets Protection Specialists are very decent salary earners. Not regarding the structure of the work as been possed to fishing out frauds and thefts. You don’t even need a full certification to be one. Although, to earn high in this career path you’d need one.

Therefore, the salary you will get as an asset protection specialist differs with regards to some factors such as the nature of the employer or industry you work for, your level of certification, and also your level of experience.

Meanwhile, research shows that the salary range of asset protection specialists lies in the range of $27k to $46k.

Career Prospects Of Asset Protection Specialists

As an asset protection specialist, there are several places you can work. As your job descriptions are based on assets. Thus even the employees are an asset of any industry. Meanwhile, some of the simple career tags you can bear are;

Asset protection associate
Loss prevention associate
Protection specialists
Loss prevention specialists
Retail loss prevention specialist
Retail asset protection specialist

How To Become An Asset Protection Specialist

In order to boost your chances of employability in this career path, you must ensure you follow the necessary processes to become a professional. Unless you choose to stick to the idea that it requires less educational certification thereby giving you lean chances of securing a well-paying job.

Therefore, to become a successful asset protection specialist, you must ensure you follow the process underlisted below;

#1. Earn a high school diploma or GED

Complete high school and earn your diploma or your GED. Depending on the employer, you may qualify for an assets protection specialist position with as little as a high school diploma or a GED.

#2. Consider pursuing a formal degree

Consider earning an associate or bachelor’s degree in a related field such as criminal justice or business. You can also pursue an associate degree in loss prevention for security or a bachelor’s degree in insurance and risk management.

Having a degree can help you stand out from other job applicants and impress hiring managers, therefore, increasing the likelihood of you getting employed. Keep in mind that a formal degree such as an associate’s or bachelor’s degree may aid in your career advancement to a supervisory role.

#3. Consider earning a certificate or diploma

Determine whether you want to pursue a relevant certificate or diploma. While they’re not required, a certificate or diploma may increase your job prospects and help you gain useful knowledge for your career as an assets protection specialist.

#4. Gain relevant experience

Though you may get hired without prior experience, consider becoming a sales associate, cashier or security guard or officer to help you best prepare for a career as an assets protection specialist. Having relevant experience may also impress hiring managers and help you stand out in the applicant pool.

Good Schools To Undertake A Program In Asset Protection Specialist

See some good schools you can obtain a degree in this career path below;

Conclusion

After going through this article, you should have learnt all the most intricacies involved in being an asset protection specialist. Hence, if you aspire to become one, we advise you follow the necessary procedures herein and the sky will be your starting point.

Frequently Asked Questions.

Earn a high school diploma or GED.
Consider pursuing a formal degree.
Consider earning a certificate or diploma.
Gain relevant experience.

While ZipRecruiter is seeing annual salaries as high as $113,000 and as low as $19,500, the majority of Asset Protection Specialist salaries currently range between $29,000 (25th percentile) to $70,000 (75th percentile) with top earners (90th percentile) making $103,000 annually across the United States.

To be a successful asset protection associate, you must have excellent attention to detail in order to monitor surveillance cameras, stay aware of suspicious activity, and act quickly to protect company merchandise. Employers also look for trustworthy candidates who can testify in court.

The typical Home Depot Asset Protection Specialist salary is $18 per hour. Asset Protection Specialist salaries at the Home Depot can range from $14 – $26 per hour.

Director of Purchasing is the highest paying job at Home Depot at $163,000 annually.

Asset Protection Specialist | What Is It, What They Do, How To Become One, Salary, Requirements And Qualifications.