Heat oil over medium heat. Add frozen corn and let cook until corn starts to char, stirring occasionally (it took about 7-8 minutes before my corn was lightly charred).
While the corn is cooking, mix together mayonnaise, cheese, lime juice, jalapeno, cilantro, red onion, garlic, chili powder, salt, and pepper in a large bowl. When corn is done, gently fold it in with other ingredients.
Serve immediately and store any leftovers in the refrigerator.
Notes
You can also use 3-4 cups fresh corn in place of the frozen corn. Recipe adapted from Serious Eats.