Crossword Genius

Loser exchanged parts (5)

Ross

I believe the answer is:

roles

'parts' is the definition.
('role' can be a synonym of 'part')

'loser exchanged' is the wordplay.
'exchanged' is an anagram indicator.
'loser' is an anagram of 'ROLES'.

(Other definitions for roles that I've seen before include "Theatrical parts" , "Dramatic parts" , "Parts in plays" , "Parts in a play" , "Actors' parts" .)

I've seen this clue in The Mirror.
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