Whisk the olive oil, vinegar, soy sauce, garlic, cilantro, oregano, black pepper, chili powder, cumin, optional chili flakes, and salt in a large bowl or shallow pan.
Place the flank steak in the marinade and rub it so that every inch of the steak is coated.
Cover and marinate for at least an hour in the fridge until ready to cook (not more than 24 hours).
When ready to smoke it, drain the marinade from the flank steak, and pat it dry with paper towels. Discard the marinade.
Preheat the pellet grill according to the manufacturer's instructions to 225-250°F (110-120℃).
Place the steak directly on the grates and smoke for about 1½ hours or until the internal temperature reaches 110-115°F (43-45℃). Remove the steak from the smoker, set it aside, and increase the temperature to medium-high or around 450-500℉ (232-260℃). Or heat up a cast-iron skillet on high and sear it on the stovetop.
Sear the flank steak for 2-3 minutes per side, or until it sears the outside for a good crust and the desired doneness has been reached. If cooking for a crowd, the most favored temperature is 135℉ (57℃).
Remove it from the pellet grill, cover it with foil to keep it warm, and let it rest for 10-15 minutes for the juices to reabsorb. Slice thinly against the grain and serve it with your favorite sides or in tacos.