Season chicken thighs with chili powder, paprika, cumin, coriander, salt, and cayenne pepper. Set aside.
Add chicken broth, rice, black beans, salsa, and corn into the Instant Pot, stir to combine. Place chicken thighs over top.
Place lid on, and turn Instant Pot on MANUAL mode with high pressure selected for 8 minutes.
Meanwhile, in a food processor or blender, add the garlic, jalapeño and green onions, pulse for 30 seconds. Add cilantro, avocado, 1/4 cup olive oil, lime juice, salt, oregano, and red pepper flakes. Pulse until smooth and creamy, about 1-2 minutes. Add more olive oil to thin out sauce if needed. Set aside.
Once cooked, allow for the Instant Pot's pressure to release manually by switching the pressure release valve to venting, this usually takes about 5 minutes.
Remove from the pot and serve with a dollop of the sauce and chopped green or cilantro, if desired.