There's currently an election underway on Stackoverflow, though compared to previous elections the notice about this event is far less visible in my opinion. Instead of the system message banner, elections are now only displayed in the Community Bulletin.
The SE team is categorically and emphatically opposed to using the system banners for elections, so this alternative is out. What I propose is to at least make important events more noticeable by changing their color or distinguish them in any other way from the other events displayed in the bulletin.
Elections are important, more important than nearly everything else that is posted in that bulletin. They should be emphasized on the bulletin in some way.