How are Japanese company division, section or department names usually translated to English e.g. 「システム開発1部ソリューション１課」? Does it translate it to System Development Department 1 Solution Section 1?
Division, Department and Section are usually translated as 事業本部 / 事業部、部 and 課 respectively. But the names of organizational units differ from company to company. For example, in mass-media (TV and press) and advertising agencies where I had worked, Division, Department and Section were respectly called 局、部、課. Goverment organizations also use 局、部、課.
金融部 will be Finance Department, but I don't think the use of the word, 'team' as a nomencrature of the organizational unit is so popular. You have a taskforce team, or new business / product / design development team as a sub- unit in a department or section, but we don't see the title of the manager / chief of XX Team of its own instead of 部 and 課 so often.
It really depends on the company but I work for a department similar to one you described (minus the numbers) and it is translated quite similarly to what you have said.
Some discrepancies would be things like whether the department is written as a Kanji-base or a Katakana-base.
金融部 > Finance Department ファイナンス部 > Finance Department
Also note that some companies do not use 課 but instead implement team names or project names / acronyms instead.
金融部 MZHチーム > Finance Department MZH Team
サービスソリューション部、 システム開発「さくら」 Service Solutions Department, System Development Team - Sakura