The former caretaker coach of Chelsea left his job in May 2023 when his contract came to an end, and the West Midlands-based club owner Doug King confirmed last week that Lampard has entered his name into the ring after ex-manager Mark Robins, 54, was sacked on 7 November - bringing an end to his second stint as the 'Sky Blues's coach.
The 46-year-old businessman told Sky Sports News: "We've received a huge amount of CVs from high-quality people, of which Frank is one.
"But the issue is we haven't done anything on that process, because we have been getting through this situation with the forum and focusing on making sure we were accessible and gave answers.
"However, clearly we are in the international break.
"We'll be assessing everything and then we'll work out who is going to make the shortlist, and then we'll interview."
Lampard previously was the attacking midfielder for the Stamford Bridge club when he arrived from West Ham in 2001 at a cost of £11 million.
Even though he left in 2014 as one of the "finest players in Chelsea Football Club’s history", he made his return in 2019 as Head Coach until 2021.
He was later appointed caretaker coach in 2023.
After landing the job at 'The Blues', he said: "It was an easy decision for me because this is my club."
Lampard added: "The explanation of my role speaks for itself but I'm not getting ahead of myself. I want to do the job to the best of my ability and in a way that can impact the club.
"I want to do the best I possibly can until the end of the season and after that, we'll see what happens."