在 你 很 小 的 时候 what role does the 在 play here? is it sort of like '(in) when you are very young?'

在 你 很 小 的 时候
what role does the 在 play here? is it sort of like ‘(in) when you are very young?’

Yes. 在。。。的时候 is a pattern: at the time when (you are/were very young).