I'm not an expert, but I was once told that in many jurisdictions banks etc. have so many "Vice Presidents" because it's essentially part of legal requirements for some of the tasks the VPs do - sometimes you literally need someone who is, at least on paper (and thus Responsible) appropriately high in management structure.
Personally I once needed[1] to have private, personal bank account opening, vetted officially "by board of the bank", but probably through similar council of seemingly overinflated job titles, but whose job titles included appropriate legal responsibility for the action taken.
[1] Run of the mill personnel could not even get answer why, ultimately it turned out due to various legal requirements someone with high job title had to sign off on "We know this customer and verified they are so and so"
Personally I once needed[1] to have private, personal bank account opening, vetted officially "by board of the bank", but probably through similar council of seemingly overinflated job titles, but whose job titles included appropriate legal responsibility for the action taken.
[1] Run of the mill personnel could not even get answer why, ultimately it turned out due to various legal requirements someone with high job title had to sign off on "We know this customer and verified they are so and so"