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First, welcome to the forum.
Next, and this does depend on your camera, you Capture your video from the camera, using a Preset for your Project, that matches the material from your camera.
Now comes the "RAW conversion," though I am using that term VERY loosely. Many people will do basically a pre-edit, by Dbl-clicking the Captured Video in the Project Panel. This opens it in the Source Monitor, where one sets the In and Out Points, basically doing a loose edit of the scenes. The Clip in the Source Monitor can then be dragged to the Timeline. Each is done this way, until they all appear, in the order that you want, on the Timeline. Note: you can drag from the Project Panel, and do this in the Timeline too. Also note: when you play the Timeline, you are now looking at the Program Monitor.
At this stage, one touches up the edits, and adds any desired Effects.
Usually last is any Audio work, like adjusting the Clip's Audio, or adding Narration, and/or Soundtrack.
Export/Share is the final step and one can choose their delivery format.
The exact workflow is a bit different than processing an image in PS, but not totally alien.
If you're talking about making adjustments as part of the import process - similar to Bridge or Lightroom - then I don't think there's a Premiere equivalent. I could be wrong, but I don't think Premiere will do it, nor will WinDV or Scenealyzer (other popular import tools).
However, once you have your clip captured and in a Premiere project, you can make ALL SORTS of adjustments. For example, if you right click on a clip, and bring up the Properties panel, the "Image Control" has adjustments for Brightness, Contrast, Hue, and Saturation. You can apply this to the whole clip, or use keyframes to apply varying settings.
Clicking on the "Effects" brings up even more options... Gaussian blur, channel mixer, B&W, many many more... You can even do masks like in Photoshop.
So in other words, you can't do these edits as part of ingesting your material (as you can in Photoshop/LR), but once you've captured the video Premiere will do many of the same things as Photoshop.
Hunt and Ed, thanks so much for your comments, they helped a great deal!
Excellent. That is what the forum is for.
I was in a similar state, when I began doing video editing. I'd spent 25 years doing advertising still work. Though digital capture came to my workflow very long into my career, I had begun doing digital image enhancement and compositing when SciTek first hit in the '80s. As soon as PS was ported for the PC, I had a copy of it and also Aldus' PhotoStyler, and began doing most of the digital work mystelf.
Still, digital video editing was new to me. Luckily, a lifetime ago, I had gotten a degree in cinematography, so I knew the basics and only had to find out how to apply cine work to video. The fora helped me greatly, as many of the terms had changed. Also, the workflow was very different, and I had to learn the most efficient ways to both shoot video and to edit it. Even now, many years later, I still marvel at how easy it is to do things that tooks us weeks to do in the old film editing suite - amazing, just amazing.
Good luck, and let us know if we can help at the next step.