Heat olive oil in a large skillet over medium-high heat. Add chicken and sauté for 4-5 minutes until golden brown.

Sprinkle salt, black pepper, chili powder, ground cumin, and smoked paprika over the chicken, stirring to coat evenly.

Add chopped yellow onion and diced red bell pepper; sauté for 3-4 minutes until onion is translucent. Add garlic and cook for additional 30 seconds.

Add uncooked long-grain white rice to the skillet, stirring well to coat it.

Pour in diced tomatoes, corn, rinsed black beans, and chicken broth. Mix and scrape any browned bits from the pan.

Bring to a gentle boil, reduce heat to low, cover, and simmer for 18-22 minutes until rice is tender.

Sprinkle cheddar and Monterey Jack cheese over the top, cover again, and let sit for 2-3 minutes until melted.

Remove from heat, squeeze fresh lime juice over the dish, garnish with cilantro, and let rest for 5 minutes before serving.