JOB DESCRIPTION AND RESPONSIBILITY
KEY RESULT AREA(KRA) & KEY PERFORMANCE INDICATOR(KPI)
finance
How to Become an Asset Manager: A Comprehensive Guide
Introduction
Asset protection managers are responsible for maintaining the safety of customer assets by preventing financial loss from theft and fraud in a company or organisation. The Asset protection manager is there to mitigate company losses and criminal activities within the company by providing security services to the asset holders or the company. Asset protection managers in the effort of maintaining profitability, implement best practices and preventative measures.
They are an important part of any financial organisation as they play an important role in securing the assets hence giving the owners confidence that their investments are safe and sound. The Financial sector is an ever growing industry and one of the largest sectors in India and with many reforms and changes, the demand for asset protection managers is always growing. it is one of the highest paying jobs, as a result, there are many people who wish to pursue this career path.
Do You Want to be an Asset Protection Manager?
To build a career as an Asset Protection Manager you need to first understand the Job profile and responsibility of the job
This blog gives you a detailed idea of what it is to become an Asset Protection Manager in the Finance Industry of India.
1. Computer knowledge
Computer skills are very much important for any job in this digital age, every transaction and record is maintained in computer software. Hence it is very important for an Asset protection manager to have proficient computer skills.
2. Time management Skills
The asset protection manager is tasked with many tasks throughout the day such as patrolling, monitoring, talking to customers, HR, managers, creating and submitting reports, etc. good time management skills are very much required to perform effectively.
3. Knowledge of bookkeeping principles
The Asset protection manager’s job is to protect the company from theft, fraud or malpractices that will do hard in the future, to prevent such losses at the source, they need to analyse and understand the accounts hence, good knowledge of bookkeeping principles is a must.
4. Communication Skills
The asset protection manager is required to communicate with many people throughout the day such as the manager, the customers, HR etc. Communication should be good to function properly in a company or corporate environment.
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Job Description
As the Job Title suggests, Asset protection managers are responsible for protecting the company’s or clients’ assets from financial loss from theft and fraud within a company. Companies rely on asset protection managers that require merchandise to be protected, to provide security and handle theft situations in line with company policy. The Asset protection managers are equipped with a range of equipment, such as communication devices, protective gear, and restraint tools such as handcuffs.Â
The Job of an asset protection manager also include, Training other professionals in the company on loss prevention and it is a large part of the asset manager’s role. The Asset protection officer is also required to patrol the sales floors observing suspicious individuals while maintaining a safe distance and occasionally interacting with other retail personnel and customers. They must themselves obey and abide by company guidelines, policies and core values, including its mission and vision to inspire associates to give optimal customer service and adhere to high levels of professionalism and also teach the same to others.
Last but not least, the Asset protection managers also generate reports of incidents of theft, burglary or staff conflict and submit them to human resources or any other superior officer who is in charge to handle such grievances.
- sustain healthy store operations by employing loss prevention and safety programs such as fraud mitigation
- develop effective partnerships with managers and store associates to help curtail loss from accidents, crime or any other reasons
- improve leadership and performance in partnership with human resources
- training staff and discussing loss prevention, fraud and safety awareness
- Choose to procure and implement security equipment and gadgets like CCTV, webcams, alarms, electronic article surveillance, RFID chips etc
- conduct investigations, interrogations and interviews in cooperation with human resources
- adhere to company guidelines, policies and core values of the company
- Create reports of incidents of theft, burglary or staff conflict
The Asset Protection Manager must be educated and have a high school pass out, in addition, the Asset protection Manager should have completed a Three year college degree with majoring in business, banking or finance preferred, such as a Bachelor of Commerce (B Com), Bachelor of Business Administration in finance (BBA Finance), Bachelor of Business Management (BBM) etc.Â
If you want to have a good chance of working in a reputed organisation, A master’s degree is recommendable, such as a Master of Commerce (M. Com) or MBA in Banking and Finance, or anything of that sort. It will also help to have at least 3 to 5 years of working experience in the field to get a job opportunity in a reputed Company or with a high profile client.
- Prevent Frauds and Losses:
The Asset protection manager’s primary role is to keep the assets of the business safe and prevent losses which may occur by means of theft or fraud.
- Monitor and surveillance suspicious customers:
The Assets Protection Manager is to monitor and notice any person who is suspected of theft or such behaviour.
- Choose and implement security protocols:
The Assets protection managers have to choose the best quality security gadgets and implement security protocols.
- Less Theft and Fraud:
- Prevention of malpractices:
Work Environment
Asset protection managers have a regular 9 to 5 work schedule with a 40 to 45 hour work week. Work hours may include evenings and weekends as different stores and businesses have different timings.
The workspace would typically be a central security hub where they can monitor many areas of the store discreetly through surveillance equipment and patrol the sales floor in disguise as a customer.
Salary Package
The Average Salary for an Asset Protection Manager in India can range somewhere between 5 Lakh to 10 lakh INR per annum.
The Amount may vary through different banks, and cities depending on workflow and workload.
The Asset protection manager is a highly responsible job role where you are in charge of protecting the company’s assets and by extension its profitability. They need to be good in communication and personal skills to handle a violent situation with peace and even use force if required but not harm the business’s reputation. For anyone who has a talent and passion for managing assets, and preserving security and safety, The Asset protection manager job could prove to be a highly successful career option for you.
What does an asset manager do?
What skills are required to become an asset manager?
What qualifications do I need to become an asset manager?
What are the key result areas for asset managers?
What is the salary package for asset managers in India?
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