The 55-year-old, who is currently working with the Waikato Chiefs in New Zealand, has been approached by the England boss regarding a potential position within the coaching staff.
"I've got some major considerations to make over the next 10 days," said Smith. "I love being a head coach. The only question I had over the England job that was advertised, the actual job description of the role, was that it was more in line with strategically running the team.
"It didn't appear to be a 'track-suited' role. I couldn't imagine a foreigner coming in and running the All Blacks. I'm of the belief that it's right that an Englishman does that for the English team. I'm pretty used to being the head man. I'm always comfortable in that role."
Smith is believed to have a release clause in his two-year contract with the Chiefs.