Retail Loss Detection and Prevention - Policies and Procedures

Why Should You Attend:

The Association of Certified Fraud Examiners reveals that as many as 33 percent of small business failures are a result of uncontrolled losses including employee theft. Large retail firms are aware of the importance of incorporating a viable loss prevention program in their business operation philosophy. However, many small to medium size retail firm owners do not understand the importance or concept of loss prevention and are vulnerable to failure due to uncontrolled losses.

The webinar will discuss how to create a loss prevention program that includes:

• Developing a loss prevention awareness campaign
• The success of a tip line
• Hiring and training the right person
• Pre-employment and promotion screening
• Ensuring loss prevention policies and procedures are adequate
• Monitoring and auditing loss prevention practices to ensure they are in compliance with procedures
• Understanding why practices deviate from established procedures that lead to losses
• Determining a baseline of normal activity
• Reacting to exceptions to baseline activity

Areas Covered in the Webinar:

• Establishing a zero tolerance for loss philosophy
• Creating a loss prevention program
• Discussing the most common retail loss hazards
• Examining why employees steal from their employer
• Establishing policy and procedures to prevent and/or early detect losses
• Monitoring practices to ensure they comply with procedures
• Reacting to a loss or theft indication
• Conducting a shrink investigation when the sources of losses are unknown

Who Will Benefit:

• Business Owners
• Controllers
• Management
• Investigators and Fraud Examiners
• External and Internal Auditors

Instructor Profile:

John E. Grimes III has over 45 years of progressive law enforcement, criminal investigation, fraud examination, loss prevention, leadership, and teaching experience. He began his career with the Baltimore City Police Department where he became a detective in the Criminal Investigation Division (CID). He left Baltimore and became a special agent with the newly created Amtrak Police Department Fraud and Organized Crime Unit. He was then promoted to captain of the CID. In 1993, Mr. Grimes joined the Amtrak Office of Inspector General/Office of Investigations. He was appointed chief inspector in 1999 and retired from service in 2011. Since his retirement his efforts have focused on education, training, and mentoring. He is an adjunct instructor at Stevenson University teaching graduate level courses in forensic interviewing and fraud examination. He is an advisory committee member for the Center for Forensic Excellence at Stevenson University. He is also on the Stevenson University Forensic Advisory Board.

In addition, Mr. Grimes is the proprietor of Fraud and Loss Prevention Solutions. He developed and taught an introductory loss prevention course for Blue Ridge CC in NC. Additionally, he has been a speaker, presenter, and trainer at many ACFE events, as well as government, private, and professional organizations.

Mr. Grimes is the immediate past president of the Maryland Chapter-ACFE. During his term as president, the Maryland Chapter was the honored recipient of the 2015 ACFE Chapter of the Year Award. He has been a Certified Fraud Examiner since 1997. He is also recognized as a Certified Forensic Interviewer by the Center for Interview Standards and Assessments, Ltd. Mr. Grimes is a member of the Reid Institute and the Loss Prevention Foundation. He was a former staff officer with the United States Coast Guard Auxiliary where he was recognized as an instructor specialist and a marine safety and environmental protection specialist.

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