The Book of Church Order, Chapter 8
This office is one of dignity and usefulness. The man who fills it has in Scripture different titles expressive of his various duties. As he has the oversight of the flock of Christ, he is termed bishop or pastor. As it is his duty
to be spiritually fruitful, dignified, and prudent, an example to the flock, and to govern well in the house and Kingdom of Christ, he is termed presbyter or elder. As he expounds the Word, and by sound doctrine both exhorts and convinces the gainsayer, he is termed teacher. These titles do not indicate different grades of office, but all describe one and the same office.
He that fills this office should possess a competency of human learning and be blameless in life, sound in the faith and apt to teach. He should exhibit a sobriety and holiness of life becoming the Gospel. He should rule his own house well and should have a good report of them that are outside the Church.
It belongs to those in the office of elder, both severally and jointly, to watch diligently over the flock committed to his charge, that no corruption of doctrine or of morals enter therein. They must exercise government and discipline, and take oversight not only of the spiritual interests of the particular church, but also the Church generally when called thereunto. They should visit the people at their homes, especially the sick. They should instruct the ignorant, comfort the mourner, nourish and guard the children of the Church. They should set a worthy example to the flock entrusted to their care by their zeal to evangelize the unconverted, make disciples, and demonstrate hospitality. All those duties which private Christians are bound to discharge by the law of love are especially incumbent upon them by divine vocation, and are to be discharged as official duties. They should pray with and for the people, being careful and diligent in seeking the fruit of the preached Word among the flock.
Time Commitment: 3-5 hours per week on average. There will be some weeks when there is little or no work. But there will be some weeks that require more time. Please talk to your family about whether they (together) are willing to make this ministry commitment.
For Further Reading
The Elder's Qualifications by Kevin DeYoung
Gospel Eldership by Robert Thune
The Shepherd Leader by Tim Witmer