You can configure job title information such as managers and directors.
The configured job titles are displayed on the user profile screen.

You cannot configure administrative privileges or access permissions using job titles.
Use Groups (or Roles) instead.
Groups (or Roles)

By creating dynamic groups based on job titles, you can use them to configure access permissions for apps and records.
Specifying Conditions for Dynamic Groups

You can search for users by job title names.
User Search Specifications