In a mixing bowl, combine the softened cream cheese, shredded cheddar cheese, diced jalapenos, green onions, garlic powder, smoked paprika, salt, and pepper. Mix well until all ingredients are evenly incorporated.
Lay the flour tortilla on a clean surface. Spread the cheese mixture evenly across the tortilla, leaving about half an inch around the edges.
If desired, sprinkle the fresh cilantro on top of the cheese mixture for an extra burst of flavor.
Starting from one edge, carefully roll the tortilla tightly into a log shape. Make sure the filling stays inside as you roll.
Once rolled, wrap the tortilla log in plastic wrap and refrigerate for at least 30 minutes to help it firm up.
After chilling, remove the wrap and slice the pinwheel into 1-inch pieces with a sharp knife. Arrange the slices on a serving platter.
Serve immediately, or cover and refrigerate until ready to serve.