Specific job titles for Forsyth and Wassall have yet to be announced, and further appointments are set to follow as part of the restructuring.
"Michael and Darren have a tremendous knowledge of football in the region and a passion for Derby County. They have both played for the club, so have a great understanding of its heritage and how important it is to the people of this area," said manager Nigel Clough. "Their enthusiasm for finding local talent is unrivalled and we are fortunate to have them on board as we look to take the academy in a new direction.
"We have other people lined up to come in and will hopefully be able to make announcements on that soon."
Forsyth played more than 400 games for Derby and was part of the Division Two title-winning team of 1986/87. Wassall played 122 games after joining Derby in June 1992 and was part of Jim Smith's squad that won promotion to the Premiership in 1995/96.