Asset Protection Associate Responsibilities

Asset protection associate responsibilities are dependent on the clients of the asset protection manager or the asset protection agency. Most commonly, asset protection is divided into two categories - Personal Assets Protection and Corporate or Business Assets Protection. Asset protection is the process of securing the assets of an individual or an organization from thefts, claims by the creditors, or any other contingency that may lead to the client loose his/her/their assets.

While the assets of an individual may not go beyond material assets, assets of an organization include manpower assets, patents, copyrights, apart from fixed and floating assets. The asset protection associate liabilities are to learn about all the assets of the client and accordingly plan an asset protection plan on which the client can rely and is relieved of the mental stress that he might face during an unexpected event or emergency.

Asset protection associate can be found working with the security officers at the exit and entrance of a retail store. They go through the baggage to check for incidents of shoplifting. For other organizations, they devise procedures to avoid any claims by the creditors on the organizations assets. For individuals, they prepare asset protection plan to safeguard assets such as house, office, etc. They also help in protecting the privacy of individuals.

Asset protection associate responsibilities are provided in detail below for different categories of this job.

Cash Flow Management

• The asset protection associate examines the cash flow and balance to check whether the available funds are sufficient to face any contingency.
• He helps the asset protection manager in devising and/or recommending investment plans for the clients to provide additional financial security to the organization.
• He also provides the details of offshore entities which can be helpful for transferring and thus safeguarding the cash reserves of the organization.

Safeguarding Warehouse Assets

• An asset protection associate helps the warehousing department to securely store the stock so that it is not lost or damaged.
• He helps in the labeling of stocks transferred to and from the warehouse to keep a track of the exact material dispatched.
• He checks the receipts of the suppliers and buyers and ensures that the information is entered into the database.
• He communicates suspicious behavior or employees or a difference in the stock to the senior officials for further investigation.

Checking Exits at Retail Stores

• The asset protection associate checks the customers leaving the retail store.
• He ensures that all the shoplifters are treated strictly and the incidents are reported to the higher authorities for further action.
• He also investigates into the cases of shoplifting reported in other branches of a chain store.

Suggesting Asset Protection Plans to Individual Clients

• The asset protection associate compiles information related to an individual clients' assets and its current value.
• He suggests investment plans that provide timely returns and secrecy and also help to reduce taxes.

Skills of an Asset Protection Associate

An asset protection associate needs to be an individual who can assure secrecy to the clients. He must be able to work for multiple clients and also suggest customized solutions by researching with the asset protection manager and other members of the team. He must possess excellent analytical skills combined with knowledge and application of math and statistics.

Becoming an Asset Protection Associate

An asset protection associate usually holds an associate or bachelor's degree in a business related course. Work experience or experience as an intern will be beneficial to apply in larger organizations.

Career Scope for Asset Protection Associate

Average salary for an asset protection associate ranges from $38,000 to $51,000 on an average. It may be higher or lower than the range stated here depending on the size and location of the organization and on the candidates competency as well.

Asset protection associate responsibilities are to help the clients in safeguarding their assets and providing measures to enhance security in the office premises.