The former Cardiff, Watford and Wigan boss is understood to be one of the names under consideration at Easter Road to replace Shaun Maloney, who was sacked after just 120 days in charge on Tuesday.
Mackay overcame a difficult start to guide County into the Premiership top six in his first season in charge, with the prospect of becoming the first boss to lead the Staggies into Europe a distinct possibility.
The 50-year-old, who also previously held the role of SFA Performance Director for four years, insists his sole focus is on completing a season to remember in Dingwall.
Mackay said: "It's no distraction at all, to be honest with you.
"I've been involved in the game and involved in management for the last 15 years or so and having been linked at various times with various things at various times and seen other managers linked and you kind of realise how these situations work.
"Your only focus has really got to be on your job.
"I have got a tough enough job here at the moment trying to make sure that the club ourselves and everyone at the football club finishes as highly and as strongly as possible.
"It's really for the fans as much as anyone else, to give them a good chance to possibly play in Europe.
"My only focus and drive in the respect is that I am the manager of the club.
"I have no other thought other than my team are going to try to play against Celtic at the weekend."