Career Development

What Does an Asset Protection Manager Do?

Find out what an asset protection manager does, how to get this job, and what it takes to succeed as an asset protection manager.

The role of a protection manager is one that requires an individual to be highly organized and detail-oriented. They are responsible for overseeing the planning, implementation, and execution of strategies designed to protect their organization’s assets from theft or damage.

Protection managers may also be tasked with developing new ways to prevent future incidents from occurring. This might include anything from creating new security protocols to implementing new technologies to improve safety.

Asset Protection Manager Job Duties

Asset protection managers have a wide range of responsibilities, which can include:

  • Developing and implementing legal strategies to reduce risk exposure to assets
  • Reviewing insurance policies to make sure they are adequate for the company’s needs
  • Developing plans to protect against risks such as lawsuits, property damage, or theft of intellectual property
  • Recommending the use of trusts, wills, insurance policies, etc., to reduce exposure to risk
  • Conducting research to identify new trends in laws or regulations which may affect the business in the future
  • Reviewing contracts to ensure that they comply with local laws
  • Ensuring that all client accounts are in compliance with regulations such as the Code of Ethics for Certified Public Accountants (CPA) or the Sarbanes-Oxley Act (SOX)
  • Reviewing financial statements to ensure that they are accurate and comply with relevant laws
  • Providing advice about the best way to structure assets in order to minimize taxes and protect against litigation risk

Asset Protection Manager Salary & Outlook

The salary of a protection manager can vary depending on their level of education, years of experience, and the size and location of the company. They may also earn additional compensation in the form of bonuses.

  • Median Annual Salary: $66,500 ($31.97/hour)
  • Top 10% Annual Salary: $137,000 ($65.87/hour)

The employment of asset protection managers is expected to grow at an average rate over the next decade.

Asset protection has become a major priority for many businesses as the costs of theft and fraud continue to rise. Asset protection managers will be needed to oversee the implementation of new strategies, such as electronic tracking of inventory and implementation of customer loyalty programs, that help reduce loss and liability.

Related: In-Depth Asset Protection Manager Salary Guide

Asset Protection Manager Job Requirements

Asset protection managers typically need to have the following qualifications:

Education: Most employers require asset protection managers to have a bachelor’s degree in finance, accounting or a related field. Some employers may hire candidates who have a high school diploma and relevant experience in asset protection.

Training & Experience: Most of an asset protection manager’s training will take place on the job. This training may include shadowing a current asset protection manager or another member of the management team. It may also include learning about the company’s policies and procedures.

Certifications & Licenses: Certifications enable professionals to prove their qualifications to current and future employers. Asset protection managers can earn certifications to gain more theoretical knowledge of their responsibilities, test their professional skills and further advance their career.

Asset Protection Manager Skills

Asset protection managers need the following skills in order to be successful:

Legal knowledge: Asset protection managers need to have a basic understanding of the law to know how to protect their company’s assets. They may need to know how to handle a lawsuit, how to protect their company from legal action or how to ensure their company follows all legal regulations. Legal knowledge can also help them understand the importance of protecting their company’s intellectual property.

Risk management: Risk management is the ability to identify potential threats and develop strategies to mitigate them. Asset protection managers use their risk management skills to develop security plans for their organizations. They also use risk management to identify potential threats to their clients’ assets and develop strategies to prevent those threats from occurring.

Security systems: Asset protection managers may be responsible for overseeing the security of a company’s property. This may include installing security systems, monitoring them and ensuring they’re working properly. Security systems may include alarm systems, surveillance cameras, fire detection systems and more.

Communication: Asset protection managers communicate with a variety of individuals and groups, including clients, employees, law enforcement and security personnel, insurance representatives and other stakeholders. They use verbal and written communication skills to convey information, answer questions and resolve issues. They also use communication skills to train employees and develop security protocols.

Business acumen: Asset protection managers need business acumen to understand the financial aspects of their job. They need to know how to calculate the cost of security measures, insurance and other expenses related to protecting a company’s assets. They also need to know how to make financial projections for the future, such as estimating how much a company might spend on security over the next year.

Asset Protection Manager Work Environment

The asset protection manager works in a corporate office environment during regular business hours. The job may require some travel to visit stores or attend conferences. The work can be stressful as the manager is responsible for ensuring the safety of the company’s assets and employees. The manager may be required to work long hours, including evenings and weekends, to respond to emergencies.

Asset Protection Manager Trends

Here are three trends influencing how asset protection managers work. Asset protection managers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Growth of Cybersecurity

The growth of cybersecurity is a trend that is having a major impact on the asset protection industry. As businesses become more reliant on technology, they are becoming increasingly vulnerable to cyberattacks. This has led to an increased demand for professionals who can help protect them from these threats.

Asset protection managers can capitalize on this trend by developing expertise in cybersecurity and by working with other members of the business to create a more secure environment. In addition, they can also work to educate employees about the dangers of cyberattacks and how to stay safe online.

More Focus on Data Security

As data becomes more valuable, businesses are beginning to focus more on data security. This means that asset protection managers will need to be familiar with new methods for protecting sensitive information.

One way that asset protection managers can adapt to this trend is by learning about new technologies that can help protect data. For example, many businesses are now using cloud-based storage solutions that offer additional security features. Asset protection managers can learn about these solutions and recommend them to their clients.

A Greater Emphasis on Risk Management

Risk management is becoming an increasingly important part of business operations as companies become more aware of the potential risks that they face.

Asset protection managers can utilize this trend by becoming experts in risk assessment. They can then use this knowledge to help their company identify and mitigate potential risks. In doing so, they can help to ensure that the company remains financially sound and stable.

How to Become an Asset Protection Manager

A career as an asset protection manager can be very rewarding. It offers the opportunity to make a difference in the lives of people who have been victims of crime, and it allows you to work with a variety of professionals from different fields.

To become an asset protection manager, you need to have a strong understanding of the criminal justice system and its processes. You also need to be able to think strategically about how to prevent and respond to crime. Additionally, you should have excellent communication skills so that you can effectively communicate with victims, law enforcement officers, and other members of the criminal justice system.

Related: How to Write an Asset Protection Manager Resume

Advancement Prospects

Advancement prospects for asset protection managers are good. With experience, asset protection managers can move into positions with more responsibility, such as loss prevention manager or security director. They may also advance by moving to a larger company or a company in a different industry.

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