"Their better attributes will be identified, they will then be shortlisted, we will take them forward as a board, interview the shortlist and ultimately decide who is going to be the next manager."
Former Grimsby full-back John McDermott and ex-Hull striker Dean Windass have expressed their interest in the job.
No female has ever managed a professional men's side in Britain, but the League Managers' Association said it would support Powell if she applied for the role.
LMA chief executive Richard Bevan said: "Why shouldn't she (make the step into the men's game)? Hope has done a fantastic job with England, but I'm not sure the FA would want to let her go."
Powell has been in charge of the England team for 11 years and was the first woman to earn a Uefa Pro Licence - football's highest coaching award.
In September this year she led the side to the final of the women's European Championship where they lost to Germany.
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