Smarilli was the 77th president of the Penn State Alumni Association and a 1971 graduate of Penn State. She was first elected to Alumni Council in 2004 and has served on the Executive Board and chaired the Budget and Finance Committee. As vice president, Smarilli helped establish and chaired the Alumni Association's first Subcommittee on Investments.
She is a partner with Murphy McCormack Capital Advisors in Lancaster, Pennsylvania. Previously, she was regional president for Wachovia Bank's central Pennsylvania market. Smarilli received the Penn State Alumni Fellow Award in 2004.