According to Kevin Valentine, CFI, LPC, who retired at the end of 2017 as the senior vice president of internal audit, loss prevention, and enterprise risk management for Signet Jewelers, it’s pretty rewarding.
Signet’s claim as the world’s largest retailer of diamond jewelry stems from its overall sales volume and the percentage of the company’s sales that are diamonds. The retailer operates about 3,600 stores under well-known brand names, such as Kay Jewelers, Zales, Jared, and more. Valentine spent more than 35 years with the company, ever since the inception of the loss prevention program. In the January–February 2018 issue of LP Magazine, Valentine talks to Jim Lee, managing editor, about his career growth and experiences with Signet over the years.
From the article:
Originally when I was hired as the director of loss prevention, the company was called Sterling Merchandise. We were a privately held company with seventy-three stores. I was the company’s first loss prevention person and was given the task of building a loss prevention program with no staff. There was literally nothing except a table, a straight-back chair, and a two-drawer, empty filing cabinet.
In 1985, I was able to justify hiring my first regional loss prevention investigator and was also given the responsibility of the inventory control department and the telecommunications department. In 1986, an investment group purchased the company, and we went public, which allowed us to start expanding and acquiring other jewelers across the US. Becoming part of the due-diligence team as we continued to make acquisitions became a very exciting and fulfilling experience.
Check out the full article, “From LP to Internal Audit to Enterprise Risk Management,” to learn more. You can also visit the Table of Contents for the January–February 2018 issue or register for a free subscription to the magazine. [Note: if you’re already a subscriber, the previous link will take you to the current issue instead.]