Although age and wisdom often go hand-in-hand, you don't need gray hairs to be an elder. Here's what the Bible has to say about the job:

Purpose:
So then, men ought to regard us as servants of Christ and as those entrusted with the secret things of God. (1 Corinthians 4:1, NIV)

Experience Required:
It is true that anyone who desires to be a church official wants to be something worthwhile. That's why officials must have a good reputation and be faithful in marriage. They must be self-controlled, sensible, well-behaved, friendly to strangers, and able to teach. They must not be heavy drinkers or troublemakers. Instead, they must be kind and gentle and not love money. Church officials must be in control of their own families, and they must see that their children are obedient and always respectful. If they don't know how to control their own families, how can they look after God's people? They must not be new followers of the Lord. If they are, they might become proud and be doomed along with the devil. Finally, they must be well-respected by people who are not followers. Then they won't be trapped and disgraced by the devil. (1 Timothy 3: 1-7, CEV)

Tasks:
Is any one of you sick? He should call the elders of the church to pray over him and anoint him with oil in the name of the Lord. (James 5:14, NIV)

Be shepherds of God's flock that is under your care, serving as overseers--not because you must, but because you are willing, as God wants you to be; not greedy for money, but eager to serve; not lording it over those entrusted to you, but being examples to the flock. And when the Chief Shepherd appears, you will receive the crown of glory that will never fade away. Young men, in the same way be submissive to those who are older. All of you, clothe yourselves with humility toward one another, because, "God opposes the proud but gives grace to the humble." (1 Peter 5:2b-5, NIV)