The Sky Blues have chosen the former Ireland international to be part of their caretaker management team while the club searches for a new manager
The recently-relegated Sky Blues have drawn their first three games since beginning life in the third tier.
Chief executive Tim Fisher told the club's official website: “Richard and Lee will take charge of first team affairs and we feel that will give us time to ensure we appoint a manager to help us mount a serious challenge for promotion."
Carsley was appointed as coach of Coventry City's under-18 team in 2011, and was later promoted to development coach and helps assist the first-team.
The club will now begin their search for their 12th manager since relegation from the Premier League in 2000.