(From page 2)
The Greek word for bishop is episkopos, meaning "overseer," an office or position of responsibility. Hence, Jesus is called the "Bishop of your souls" in 1 Pet. 2:21. Judas is spoken of in Acts 1:20 as having a "bishoprick" that would be given to another, reflecting the fact that the Twelve are overseers. (See also D&C 114:1-2.)This, of course, is not to be confused with the ordained office of bishop in the Aaronic Priesthood (see D&C 20:67), in which the bishop of a ward officiates and functions as a common judge in Israel. (See D&C 107:74.)
Source: Bible Dictionary, 1984 LDS edition of the King James Bible, p. 625.