Season the steak strips with chili powder, garlic powder, smoked paprika, salt, and pepper.

Heat olive oil in a skillet over medium-high heat. Sear the steak for 2–3 minutes per side until cooked to your preferred doneness. Remove from the skillet and set aside.

In the same skillet, melt butter over medium heat. Whisk in the flour and cook for 1–2 minutes to form a roux.

Gradually add the milk, whisking constantly to avoid lumps. Cook until the sauce begins to thicken, about 3–4 minutes. Stir in the shredded cheese and diced green chilies until melted and smooth.

In a large bowl, mix the cooked rice with cumin, chili powder, and chopped cilantro. Adjust seasoning with salt to taste.

Divide the rice between serving plates. Top with the cooked steak and drizzle generously with queso sauce.