Quite simple, the answer is no you cannot coach your subordinates. Why, you may ask?
A coaching relationship is seen as an equal partnership between two people and unfortunately whichever way you dress it up, you and your subordinates within the business environment are not equal parties. You are their boss.
It is therefore recommended that you take on a mentorship role, which is the type of relationship which works extremely well in this type of situation as the mentor’s job is to impart their knowledge, experience and learnings onto a less experienced mentee. The relationship is equal in respect, but not in status.
If however you want your team members to engage in a positive and impactful coaching experience then you must accept that you are not the right person for the job and that a colleague from another department or an external coach should be earmarked for the job.