The wiring hookup you depict will work fine
Some other relevant information to keep in mind is:
* The switch you are using is a single Pole Single Throw unit. (SPST)
* It is is not polarized so it will also work if you reverse the hookup of the brown and black wires. The "ON/OFF" label is just provided for convenience and optional use.
* One thing to plan for is the physical orientation of the switch when you mount it on your panel. That is, decide if you want the switch to be ON when the toggle handle is flipped up or down or even to one side. This depends on the function you are controlling with the switch. For a power switch most people would choose it to be ON when the toggle is up of course.