Coleman set to be given Wales post.
The FA of Wales have called a press conference to be held at St David's Hotel in Cardiff Bay at noon, where the former Coventry City manager's appointment is set to be confirmed.
The 41-year-old had revealed he was set to hold talks with Welsh football chiefs this week following his departure from Greek side Larissa, having emerged as the favourite to land the role after Manchester United midfielder Ryan Giggs reportedly turned down the chance to take the job.
Former Wales striker John Hartson had also publicly announced his interest while Raymond Verheijen, assistant manager under Speed, had not hidden his keenness to be involved in the set-up.
The FAW are keen to continue the progress that Wales had made with Speed in charge, with the Dragons winning four of their final five games during the former midfielder's tenure before his death in November.
That run of results moved Wales into the world's top 50 and earned them the tag of 2011's highest climbers in the FIFA rankings.
But the association were wary of being seen as insensitive by starting a recruitment process too soon after Speed's death.
The search for a new manager has stepped up in pace over the course of the last week, though, and now appears set to culminate in Coleman, who won 32 caps for Wales as a centre-half before being forced to retire in 2002 after suffering serious leg injuries in a car crash, being handed the reigns.
His first game in charge will be the friendly against Costa Rica at Cardiff City Stadium on February 29, which is being played as a memorial to Speed.