Heat olive oil in a skillet over medium-high heat.
Add the diced onion and saute for 5 minutes, or until soft and lightly golden.
Transfer the sautéed onion to a pot. Add the diced tomatoes with green chiles, corn, and black beans, and stir to combine.
Add the chopped red bell pepper, paprika, cumin, garlic powder, and cayenne pepper. Mix well.
Pour in the chicken broth and bring the mixture to a boil over medium-high heat.
Reduce the heat and let it simmer gently for 5 to 10 minutes.
Season with salt and black pepper to taste.
Add the cream cheese and stir until completely melted and incorporated into the soup.
Stir in the shredded chicken and cook for another 7 to 10 minutes.
Serve with fresh cilantro, Mexican blend cheese, avocado slices, and tortilla chips. Enjoy!