1. Heat the olive oil in a large pot or Dutch oven over medium high heat. Add the ground beef and cook, breaking it apart with a spoon, until well browned and cooked through. Spoon off most of the excess grease, leaving a thin layer for flavor.

2. Add the diced onion and green bell pepper to the pot and cook for 4 to 5 minutes, stirring occasionally, until softened and lightly golden. Stir in the minced garlic and cook for 30 seconds until fragrant.

3. Sprinkle in the chili powder, cumin, smoked paprika, dried oregano, crushed red pepper flakes if using, kosher salt, and black pepper. Stir well so the spices coat the meat and vegetables and cook for about 1 minute to toast the spices.

4. Pour in the chicken broth, then add the diced tomatoes with green chilies, corn, and black beans. Stir, scraping up any browned bits from the bottom of the pot. Bring to a gentle boil, then reduce the heat and simmer for 10 to 15 minutes.

5. Add the cubed cream cheese to the pot and stir until it melts completely and the broth looks smooth and creamy.

6. Lower the heat to medium low. Stir in the heavy cream and 1 cup of the shredded cheddar cheese, reserving the remaining 1/2 cup for topping. Continue stirring until the cheese is melted and the soup is thick and velvety. Do not let it come to a full boil.

7. Stir in the chopped cilantro and taste, adjusting salt and pepper as needed. Ladle the soup into bowls and top with the reserved cheddar, extra cilantro, sliced green onions, crushed tortilla chips, or a dollop of sour cream. Serve hot.