Yes! In the team settings section, you can set permissions for the team members who have a moderator role. If you add a user as a Moderator, you'll see Set Permissions tab on the team list.
When you click Set Permissions button, you can manage the visibility of channels and users for the specified team members.
NOTE: If you add a user as an admin instead of a moderator or read-only, the user will have all the permissions like the owner of the account.