Have you tried gently pulling on it to see if it's secure (or at least relatively so)? I don't know if this particular jack is a TRS jack that can use one cable to send the two signals out to separate outputs (i.e., a Y-cable - think of a stereo plug that separates to two separate channels at the other end) - if so, it may be functioning normally. If the plug is securely in the jack, and especially if you wrap the cable through your strap, it should be no different than any other cable.