Erik P. Shumar
Adjunct Assistant Professor
Erik P. Shumar is the Director and Head of the Community Development Group at UBS Bank USA. Among his duties, he is responsible for developing, implementing, and managing all aspects of the Bank’s Community Reinvestment Act (“CRA”) Program, originating CRA qualifying loans and investments sufficient to receive an “Outstanding” CRA rating, and cultivating relationships with community, charitable, and nonprofit organizations. In New York, Mr. Shumar was formerly a Senior Vice President in Community Development at Citibank where he oversaw the CRA performance of Citi’s three legal vehicles. Mr. Shumar also previously served as the Director of Community Development Banking at a large, Virginia-based bank, where he led a team of individuals to manage CRA performance and deliverables for the Bank across its national footprint. Furthermore, utilizing his concentrated studies in and specialized understanding of low- and moderate-income populations as well as underserved communities, Mr. Shumar has served as a consultant on banking and behavioral economics-related issues for governmental agencies including the FDIC, Federal Reserve Bank of New York, New York City Department of Consumer Affairs, and the Manhattan Borough President’s Office.
In his leisure time, Mr. Shumar serves as the Board Chair for Neighborhood Housing Services of New York City and as the Treasurer for the Coalition for Debtor Education. He has extensive international experience and is fluent in both Japanese and Korean. While in South Korea, he studied as a Fulbright Scholar and worked as the Educational Director for Kaplan Center Korea. Recently, Mr. Shumar completed his doctoral studies at Columbia University researching the topic affordable housing and the effects of homelessness on psychiatric symptomatology. His research interests include community development, nonprofit organizational decision-making, and international adoption.
In addition to his doctoral work, Mr. Shumar is in his seventh year of teaching Financial Management at Columbia University, and has also previously taught courses on research methods and quantitative analysis. Mr. Shumar is a summa cum laude graduate (with honors) of Bucknell University and also holds two Master degrees (MPA, MSW) from Columbia University.