Steps
Go to the Album page
Press the More Options button
Select the Edit button
You arrive on the Edit Profile page
How the Edit Album page works
This page lets you edit the
Description text for the Album
Add a cover image to the Album
Manage the Album’s Managers (i.e. users who can access this page)
Manage the Album’s Members (i.e. users with view-only access to the Album)
From here you can also Delete an Album