In a large pot, melt butter over medium heat. Add the beef cubes and sear them until golden brown on all sides. Remove and set aside.
In the same pot, add onions, celery, carrots, parsnip, and bell pepper. Cook until softened, then stir in the garlic and cook briefly.
Sprinkle flour over the vegetables, then add smoked paprika, cumin, salt, and pepper. Stir until evenly coated.
Pour in Guinness, scraping up any browned bits from the bottom. Add diced tomatoes, tomato paste, beef broth, and bay leaves. Stir to combine.
Return the beef to the pot, cover, and simmer on low heat for a few hours, stirring occasionally.
Add potatoes, corn rounds, and peas about 30 minutes before the stew is done. Cook until the potatoes are tender.
Taste and adjust seasoning if needed. Remove the bay leaves and let the stew rest briefly before serving.
Serve warm with crusty bread or mashed potatoes.