Yes, of course... the tank is a remote "sump".
My point was that the oil will, or should be coolest when it is coming out of the cooler. The oil in the tank will tend to be cooled down from when it leaves the engine, but is probably still warmer than the oil leaving the cooler- it is in an area surrounded by warmer air. The chances are that the colder the oil is before it enters the cooler, the colder it will be exiting the cooler AND the more efficiently the cooler will operate because of a smaller temperature differential.