Heat olive oil in a large skillet over medium-high heat.
Add diced onion and cook for 3 minutes until softened.
Add minced garlic and cook for 1 minute until fragrant.
Add ground beef to the skillet and cook, breaking it apart with a spatula, until browned and no longer pink, about 6-8 minutes.
Drain excess fat from the skillet if necessary.
Add diced green and red bell peppers to the skillet and cook for 4 minutes until slightly softened.
Stir in diced tomatoes, frozen corn, salt, black pepper, smoked paprika, dried oregano, and chili powder.
Pour in beef broth, stir to combine, and reduce heat to medium-low.
Cover the skillet and simmer for 8 minutes to allow flavors to meld and vegetables to cook through.
Remove the lid and sprinkle shredded cheddar cheese evenly over the top.
Cover again and cook for 2 more minutes until cheese melts.
Remove from heat and garnish with chopped fresh parsley before serving.