Secretary or high official
Originally derived from the Latin 'cancellarius', which referred to a court official who sat behind a screen (cancelli). In modern usage, it is an occupational surname-name associated with high-ranking government, legal, or academic positions.
Less common today
Chancellor isn't in the latest US Top 1000. It last peaked at #1,091 in 2001.
American rapper known professionally as Chance the Rapper
American actor known for The Three Investigators
US births per 5-year period, 1990βpresent (SSA data).