Bob,
First and foremost, thank you for stepping forward and willing to serve.
As you know, most Directors wear two hats. One as the Director, who - as part of the Board - make the decisions for the Association. The second being that of an Officer (Pres, VP, etc.) who is responsible for carrying out the day to day tasks of running the Association.
The specific duties should be spelled out within your governing documents (typically the Bylaws).
In general, the are:
President - Preside over all meetings of the Association, typically is the signature authority on all contracts, might be the second signature on Association checks, is usually the main representative of the Board.
Vice President - Presides over the meetings of the Association if the President is unavailable, other duties as assigned. (ours also serves as the liaison for contractors)
Treasurer - Pays the Bills, tracks the assessment payments, files taxes
Secretary - Keeps (takes) the minutes of all Board meetings and General membership meetings, is custodian of the Association records, custodian of any corporate seal, might prepare reports to the corporation commission.
As for compensation, some board members are compensated, most are not. The answer will be found within your Associations governing documents.
As a new board member I would encourage you to read all of your governing documents and applicable State laws (HOA and Corporate). Here are some links:
Community Association Network FL page scroll down the page and links to the laws are on the left.
FL CHAPTER 617
CORPORATIONS NOT FOR PROFIT This would only apply if your Association is incorporated as a nonprofit corporation (most are).
Good luck and again, thank you for volunteering.
Tim