Prepare the chicken by cutting it into bite-sized pieces and seasoning with salt and pepper.
Heat olive oil in a large skillet over medium-high heat.
Add the seasoned chicken to the skillet and cook until browned, about 6-8 minutes.
Remove the chicken from the skillet and set aside. In the same skillet, add onion, garlic, and bell pepper.
Sauté the vegetables until they are softened, about 4-5 minutes.
Stir in the cumin and chili powder, cooking for an additional minute to bloom the spices.
Return the browned chicken to the skillet and pour in the chicken broth, stirring to combine.
Reduce heat to medium and let simmer for 10 minutes to cook the chicken through and meld the flavors.
Stir in the heavy cream and bring to a gentle simmer.
Gradually add the shredded cheese, stirring until melted and well combined.
Taste and adjust seasoning as needed before serving hot.