Is this the right approach? -- Convert the Java bean object to XML using JAXB, and then use XSLT to convert this XML to the format I actually want.
First, there is no single "right" approach to anything. In software design there are many approaches to a requirement. Design skill is measured by an individual's ability to select one that is "best" for a particular situation and to do this on a consistent basis.
In regards to creating a CSV record (as shown above) using data from an object, you can simply create the record using the data directly from the object. There is no need or purpose to create an XML version.
This is not the same as the topic of this post. This post is about creating a XML-based document from the CSV record (as shown above.) Not creating a CSV record from an object's data.
Keep in mind that writing code with XSLT is no simple task and typically will required seasoned programming skills for complex conversions. It looks like your group needs to hire a consulting team to guide you as you begin to learn XML programming. Also, if you rush through this without taking it slow, you will most likely get it wrong and waste time and money.