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A number of names have already been thrown into the hat as possible replacements for Hanks but Edwards who also works on a part-time basis with the Welsh national squad is happy where he is for now.
"I am very happy where I am. I have no desire to get involved in the contracts or hiring and firing of people," he said.
"I am a coach and I enjoy being out on the training pitch with the players, so being a director of rugby has never been an ambition of mine.
"At the moment, with me taking over as the so-called 'boss' the only difference has been that I am picking the team and deciding when the subs go on, so it has not taken up that much more of my time."
Wasps have a Amlin Challenge Cup quarter-final to look forward to against Harlequins in April but with his side currently in eighth position in the premiership Edwards is targeting a top six finish to secure a Heineken Cup berth for next season.
"People forget we have only made the play-offs once in five years," he added.
"We did it in 2008 when we won the title, we won the Heineken Cup in 2007, but we did not make the play-offs that season.
"Our objective is to qualify for the Heineken Cup and if we can get into the play-offs that would be great."
