Erik P. Shumar
Adjunct Assistant Professor
Erik P. Shumar is the Director and Head of the Community Development Group at UBS Bank USA, in which role he develops, implements, and manages all aspects of the bank’s Community Reinvestment Act (CRA) Program. His responsibilities include originating CRA qualifying loans and investments sufficient to receive an “outstanding” CRA rating, and cultivating relationships with community, charitable, and nonprofit organizations.
Dr. Shumar was previously a Senior Vice President in Community Development at Citibank, in which role he oversaw the CRA performance of Citi’s three legal vehicles. He also served as the Director of Community Development Banking for a large Virginia-based bank, in which role he led a team of individuals to manage CRA performance and deliverables for the bank across its national footprint. As a consultant, he used his specialized knowledge of low- and moderate-income populations and underserved communities to advise government agencies including FDIC, the Federal Reserve Bank of New York, NYC Department of Consumer Affairs, and the Manhattan Borough President’s Office.
Dr. 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 is fluent in Japanese and Korean. While studying in South Korea as a Fulbright Scholar, he served as the Educational Director for Kaplan Center Korea. Dr. Shumar’s research interests include affordable housing, the effects of homelessness on psychiatric symptomatology, community development, nonprofit organizational decision-making, and international adoption.
Dr. Shumar earned his BA summa cum laude with honors from Bucknell University, and earned his MSW, MPA, and PhD from Columbia University.