In a large skillet, heat the olive oil over medium heat. Season the chicken breasts with cumin, chili powder, garlic powder, salt, and pepper.
Add the seasoned chicken breasts to the skillet and sear on each side for about 4-5 minutes until golden brown. Remove from heat and set aside.
In the same skillet, add sliced bell peppers and onion. Sauté until softened, about 4-5 minutes.
Stir in the corn and black beans, mixing everything together for an additional 2 minutes.
Place the seared chicken breasts in a baking dish, and generously top each piece with the vegetable mixture.
Pour the diced tomatoes with green chilies over the chicken and vegetables, ensuring even coverage.
Finally, sprinkle the shredded Monterey Jack cheese evenly over the top.
Cover the baking dish with foil and bake for 25 minutes. After 25 minutes, remove the foil and bake for an additional 10 minutes or until the cheese is bubbly and slightly golden.
Once done, remove from the oven and let it rest for a few minutes. Garnish with fresh cilantro before serving.