Back in June, the local school became the first Grammar to fail an inspection and the first to be placed on this scheme.
Formal intervention means the school must produce an action plan and get extra support to help it improve.
Current Principal, Eileen Lisk is due to step down at the end of this month and it is hoped that her replacement will be appointed before Christmas.
The North Eastern Education and Library Board (NEELB), stated applicants must be qualified teachers who have taught in a post-primary for at least 10 of the past 15 years.
The successful candidate will have a difficult task of getting the school out of intervention. The maximum advertised salary is £72,752
The Education and Training Inspectorate (ETI) assessment in June found the Sixth Form was inadequate and pupils underachieved at GCSE and A Level exams.
The report concluded that: “The substantial areas for improvement identified in standards, learning and teaching, and the leadership and management of aspects of the sixth form provision need to be addressed urgently if the school is to meet effectively the needs of all of the pupils.”