Preheat the oven to 350°F (175°C).
In a large skillet, heat the olive oil over medium heat. Add the sliced onion and cook until caramelized, about 10-15 minutes, stirring occasionally.
Add the ground beef to the skillet with the onions. Cook until browned, breaking it apart with a spoon, about 5-7 minutes. Drain excess fat if necessary.
Stir in the beef broth, cream of mushroom soup, Worcestershire sauce, garlic powder, onion powder, salt, and pepper. Mix well until combined.
In a large mixing bowl, combine the cooked rice with the beef and onion mixture. Stir until the rice is evenly coated.
Transfer the mixture to a greased 9x13 inch baking dish. Spread it out evenly.
Sprinkle the shredded cheddar cheese on top of the casserole.
Cover the baking dish with aluminum foil and bake in the preheated oven for 25 minutes.
Remove the foil and bake for an additional 10-15 minutes, or until the cheese is bubbly and golden.
Remove from the oven and let it cool for a few minutes. Garnish with chopped parsley before serving.