As the bill establishing this position reads:

Any sitting member of the Senate shall be qualified for the role, which will be elected by a majority of the Senate of Varkonia every two calendar months. Now candidates must announce their intent to run for this position. It is a prestigious position with a large amount of responsibility over XP production.

There will be 24 hours to declare candidacy. Only current senators may run for this position. Following the 24 hours, there will be a voting thread posted on the subreddit which will be up for another 24 hours, unless the candidate is unopposed, in which case they automatically become Guild Master. The person with the most votes will win. If there is a tie, Varkanos, the King, will select the winner.