He is now contracted to Super XV franchise the Chiefs under new head coach Dave Rennie and Smith explained that he would not walk away from that job for at least six months, ending speculation that he could be involved as England as they look to retain their Six Nations crown.
However Rennie did concede that if Smith was offered a post at international level, the Chiefs would be prepared to release the former All Black fly-half early from a two-year deal.
Smith told TV3 in New Zealand: "There are always opportunities on the table. It is my craft and it is my professional. If it [a job with England] ever came along I'd have to have a look at it, but certainly not in the next six months.
"I'd like to coach Test match rugby again as a head coach or within an environment like we had [in the All Blacks]. It was like being head coach, you had the same accountabilities."
Rennie, who replaces Ian Foster in charge of the Chiefs after working with the New Zealand age group sides and ITM Cup side Manawatu, added: "It was a real coup getting Smithy in the first place. He signed a two year deal but our view has been that if he got the opportunity to coach international rugby again we would not stand in his way at all."