Dimension owner versus Dimension manager

We have a dimension set up for departments. We have about 30 budget managers who are responsible for day to day activities of their departments and 4 VPs who have oversight for specific department managers and are responsible for approving large expenditures.

Organization administration > Organizations > Operating units Organization administration allows us to assign the manager.

General ledger > Chart of accounts > Dimensions > Financial dimensions allows us to assign the owner.

Question:

I would like to know what each is used for with respect to the workflow and other functions that pull from these two fields. What I am hoping is that for each department I can assign the budget manager and the VP who has oversight using both the manager and owner fields.