Typically when I was the Team Lead, my boss had a business view and not a tech understanding. As such I became the voice of tech to business. Likewise I was the business voice to the techies.
You will/should have a good understanding of each persons project. Your people will come to you when they have trouble. When they do, usually the best method is to just talk through the problem. eg "so you say your routine blows up just once a week, and you did not change a thing ... lets discuss what environment it is running in .... "
You MUST watch for when an engineer gets stuck. You are the voice of reason for when they argue tabs vs spaces. (FYI tabs). It is key on you to recognize when it occurs because engineers will suck up a lot of time on things that just do not matter. Unlike tabs which are critical ;-)
You must be prepared to defend your people when they make a mistake, which is a when not an if situation. My worst was one of mine getting arrested for dealing. I had not defense. Fortunately it only happened once.
Congratulations, now get back to work.