Okay now I feel your pain, every answer is different.
First...realize the Korean Dramas are run differently than the Chinese Dramas. Step 1. Determine which type of drama yours is. If it's neither, then there's less direction than perhaps looking at dramas from the same country OR asking a Channel Manager you respect for help.
(And before anybody starts arguing about this one, READ the on-air cover pages... it's clear as day!)
IF...your drama is a Korean Drama -- then...things move differently. Depending on WHO you hire for your Chief Editor, some - like cgwm808....also want to hire your Subtitle Team. You may also have up to SIX English Moderators....some "cheerleaders" listed as "English Moderators" who do well, nothing. Except cheer the Team on. So...IF you have Korean Drama, my advice is find an experienced CM who you respect and seek guidance there. (Yes, I've segmented on a drama that had six "Eng Mods" listed on the cover page..PLUS the CE and full editing team!)
IF...your drama is a Chinese Drama....then things run in a less complicated way, BUT...Much depends on who you hire. GENERALLY the English Moderator, like ANY other Language Team Moderator, HIRES the Subtitle translation Team. They also, depending on their ability, MAY do the first edit of the work. (Again, like one would expect ANY Language Moderator to do).
GENERALLY, because there is no pure "EDIT" Team position you can give the Editors, who are responsible for taking the work after the English Moderator and their Team have completed it, and then giving it the final polish to hand it to the Other Language teams. These persons, Editors, are given the English Moderator key OR an All Languages Key - if you want to differentiate them from the English Moderator. USUALLY there are not "extra" English moderators on a Chinese Drama.
The CHIEF Editor is to then hand over the completed English version finally to other languages for their USE OR the CM may do this also. No law says you can't do it either way.
Again...MUCH depends on who you hire, what their skill sets are. It's best to know what abilities you hire when you hire your Team - and who you will be looking to in order to fulfill the needs of the drama and hopefully, make your experience smooth and kind.
Channel Manager is not the easiest job in the world, it can be very challenging, it can be a lot of fun. It can be a royal pain in the neck. A good CM hires people who will get along with each other, are competent, and very capable in their positions. If there are questions as to the duties of each, make it clear as they are hired. It's also a good idea to talk to an existing English Moderator or Editor before hiring in the rest of the English folks - again, there are style differences and other things that should be vetted to ensure the best work and smooth functioning to start your drama well.
I wish you the very best, and I hope you can find your way through all the well-meant advice you see here.
GeNie of the Lamp