I'm not familiar with financial service cloud package, but it looks like you're using the right type, but maybe not the correct name. You simply just need to pass the FieldAPIName for the picklist.
Should be. I use a deployment tool which simplifies this for me, but if you're looking to pull it you might want to check workbench --> Info --> Metadata Types & Components --> ProfileSessionSetting.
What's highlighted in blue is just the profile name.
This'll give you the name to include in your package.xml to pull/deploy.