I don't think it's comparable to a TT faculty position because the responsibilities are largely distinct. IMO, it is perceived as more of an administrative position, which may qualify you for other administrative positions, both within academia and in federal labs.
Thank you very much for this.
Meaning you will be also likely required to conceptualize and direct several competitive proposals, getting some of them funded at the end. Pretty much like a TT professor but in a different level.