Born in 1975 in Pripyat.
Has higher education. In 1997 graduated from Kyiv National Economic University with a degree in Enterprise Economics. PhD in Economics (2012).
January 1997-November 1998 – expert of the division of infrastructure, investment activity and international investment cooperation of the National Agency for Development and European integration of Ukraine.
November 1998 – January 2000 - expert of the Office of the Deputy Prime Minister of Ukraine for Economics of the Cabinet of Ministers of Ukraine.
February 2000-September 2001- deputy head of the group of ministerial advisors, head of the department of the structural policy of the Ministry of Economy of Ukraine
September 2001 – Septemeber 2003 - Deputy State Secretary of the Ministry of Economy and European Integration of Ukraine.
June 2004 – June 2005 – Director of the Department on dealing with the problem bank of the General Banking Supervision Department of the National Bank of Ukraine.
August 2005- October 2006 - Deputy Chairman of the Board of PJSC Ukrtransnafta.
May 2007 – October 2007 - Deputy Chairman of the Board of the State Mortgage Institution.
January 2008 – March 2010 – First Deputy Minister of Finance of Ukraine.
During 2011-2013 Ihor Umansky taught at the O.S. Popov Odessa National Academy of Telecommunications.
October 2014 – December 2015 - First Deputy Minister of Finance of Ukraine.
March 4, 2020 – appointed Minister of Finance of Ukraine.