Simpson and fellow flag-winning coach John Longmire - both North premiership players - are seen as obvious contenders for the role after Alastair Clarkson was sacked.
"I am going to have a good think about it, and whether or not that opportunity presents itself will be determined by others, and not me," Simpson said on SEN on Thursday.
"But if someone rang me today ... I don't know ... I feel really comfortable doing what I am doing at the moment (in the media).
"I am going to have a good think in the next week, and have a talk to the family and see where that lands.
"I am sure 'Horse' (Longmire) will be the same, and (Fremantle assistant) Jaymie Graham and all the potential coaches."
Simpson, who played in the Kangaroos' 1996 and 1999 flags, led West Coast to the 2018 premiership and was part of Carlton's four-man coaching selection panel that decided on Josh Fraser as the replacement for Michael Voss.
"It's weird, I went through a coaching process with Carlton and now I'm like, 'Do I want to do that?' That is to be worked through," Simpson said.
"Hopefully (people) don't think I am trying to pitch anything ... this is just me being as honest as I can."
Simpson and Longmire were at pains to distance themselves from coaching speculation when appearing in their regular television slot on Wednesday night, hours after Clarkson's sacking was confirmed.
Kangaroos president Sonja Hood and football boss Todd Viney flagged the need for a coach who can keep up with the "modern game" - and those words will loom large over their search for Clarkson's replacement.
Longmire noted the league's oldest coach has no problem keeping pace, suggesting age is just a number when it comes to coaching success.
At 65, Chris Fagan is the grandfather going for his third-straight premiership with the Brisbane Lions, while 52-year-old Craig McRae has been hailed for his work this season at Collingwood.
"Chris Fagan certainly hasn't had a problem with that. 'Fly' McRae ... he seems to be coaching pretty well in the modern game," Longmire told AFL360.
"It was a pretty telling comment from North Melbourne, but that's not to say whether you're young or old, that you can't keep up with the modern game. Chris Fagan is a great example of that."
Longmire, 55, stepped down as Sydney coach in November last year and Simpson, 50, ended his time at West Coast in July, 2024.
The pair readily agreed they have lingering sentiment towards North after long and successful playing careers at the club.
"You can't help it - I grew up there. They've had such a big say in both our lives," Longmire said of the Kangaroos.
Simpson said he was not interested in going for the Essendon role, since filled by Mark McVeigh, but admitted he "had a think" about Carlton before joining the selection panel.
Simpson added that while Clarkson's four-year term as North coach ended badly, he had definitely made a difference.
"I'm not sure how many people wanted that job at North four years ago. I'm not sure if there were people dying to get that job," Simpson said.
"I bet you there are a few people going for it now, with what's happened in the last four years."
Viney said North need a new coach with a "good understanding" of the game, while Hood said the selection process will move "pretty quickly".
But Hood was adamant the Kangaroos did not have someone in mind already.
"Just to be really clear, we don't have a pre-supposed idea," Hood said at Wednesday's club presser.
"We'll make an announcement later … some time next week, on the process that (choosing their next coach) will take.
"But we will be looking for the best person to coach North Melbourne."
