In a large pot or Dutch oven, heat olive oil over medium heat. Add the diced onion and sauté until transparent, about 5 minutes.
Stir in minced garlic and cook for an additional minute until fragrant.
Add the diced red bell pepper, green chilies, cumin, chili powder, and smoked paprika. Mix everything well and cook for about 3-4 minutes until the bell peppers are softened.
Pour in the chicken broth, followed by the shredded cooked chicken, black beans, and corn. Stir to combine and bring the mixture to a boil.
Once boiling, reduce the heat to low and let the soup simmer for 10-15 minutes, allowing the flavors to meld.
Stir in the heavy cream and season with salt and pepper to taste. Let it simmer for an additional 5 minutes.
Ladle the soup into bowls and top with shredded cheese and fresh cilantro.
Serve hot with tortilla chips on the side for dipping or crumbling on top for added crunch.