In a large pot, heat the olive oil over medium heat. Add the diced onion and bell pepper, and sauté for about 5 minutes until softened. Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the chicken pieces to the pot and season with chili powder, cumin, smoked paprika, salt, and black pepper. Cook for about 5-7 minutes, stirring occasionally, until the chicken is no longer pink.
Pour in the chicken broth and diced tomatoes, then bring the mixture to a boil.
Once boiling, stir in the rice, corn, and black beans. Reduce the heat to low, cover, and let it simmer for about 20 minutes, or until the rice is tender and the soup has thickened.
Remove the pot from heat and stir in the lime juice. Taste and adjust seasoning if necessary.
Serve hot, garnished with fresh cilantro, and add a dollop of sour cream and shredded cheese if desired.