Supervise setting poetry in Old English (7)
I believe the answer is:
oversee
'supervise' is the definition.
(I know that supervise can be written as oversee)
'poetry in old english' is the wordplay.
'poetry' becomes 'verse' (synonyms).
'in' is an insertion indicator.
'old english' becomes 'OE'.
'verse' going inside 'oe' is 'OVERSEE'.
'setting' acts as a link.
(Other definitions for oversee that I've seen before include "survey" , "take charge" , "Supervise, keep an eye on" , "Act as tutor" , "Exercise supervision" .)