Its very, very suboptimal. The patch pockets help, but solid charcoal is a suit color and is pretty much always going to look like and orphaned suit coat.
I do think you can do this with a navy suit/jacket--the famous blazer suit. But charcoal is a no-go in my opinion.
Edit: I mis-read "colored" as charcoal. See my response above: For navy, or maybe even better, something like an air force blue, yes. You can make a blazer suit that, while maybe not something you'd want to wear to a board meeting, can do both roles. Charcoal, no.