Stuart Lancaster will be eager to move quickly after Farrell, his right-hand man in guiding England to second in the 2012 RBS 6 Nations, opted to stay loyal to Saracens while RFU chief executive Ian Ritchie has promised to provide Lancaster with a world class coaching team.
But Smith, formerly Northampton's director of rugby, admits the phone has not rung yet.
He said: "I'm really happy here at the moment. I'm close to family and enjoying the game.
"The NZRU have been great to me and I'm not desperate to coach overseas although one day I'd like to be in the Test arena again."
Under the current circumstances, Smith would not be available for England's summer tour of South Africa due to his commitments with the Chiefs.
That would mean the RFU having to appoint another interim backs coach for the three-Test tour.