Fraser is to work alongside James Whitaker and Ashley Giles on the three-man selection panel while Collingwood will join the backroom staff for the forthcoming limited-overs tour to West Indies and the World Twenty20 in Bangladesh.
Former seam bowler Fraser, who played 46 tests and 42 one-day matches for his country, will combine his England duties with his role as Middlesex's director of cricket.
"I am chuffed to be involved and am looking forward to the challenges that lie ahead," the 48-year-old told Sky Sports television.
"Despite the doom and gloom after this winter's Ashes I believe it's a really exciting time to be involved in the England setup," said Fraser, referring to Australia's 5-0 test series victory.
Former England batsman Collingwood, 37, who played 68 tests, 197 one-dayers and 35 Twenty20s, will combine his temporary international commitments with his playing role as captain of Durham.
Paul Downton, managing director of England cricket, said: "I am delighted Paul has agreed to join the coaching staff for the trips to the West Indies and Bangladesh.
"He was an outstanding performer for England and proved a successful captain in Twenty20 cricket and the county game."
(Writing by Tony Jimenez; editing by Toby Davis)
