CP -> Moderator Settings -> Moderator Permissions
Options:
Is Moderator (are they a moderator?)
Moderated Forums (how many forums do they moderate?)
Lock Topics (Can they lock topics?)
Move Topics (Can they move posts to other forums?)
Delete Posts (Can they delete posts?)
Stick Topics (Can they sticky topics?)
Approve Posts (Can they approve posts to moderated forums?)
Edit Posts (Can they edit posts of users?)
Edit Users (Can they edit user profiles?)