In a large pot or skillet, heat the olive oil over medium-high heat. Add the sliced chicken breast and season with chili powder, cumin, salt, and black pepper. Cook until the chicken is browned and fully cooked.
Add the sliced bell pepper and onion to the pot. Sauté for about 3-4 minutes until they start to soften.
Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the uncooked penne pasta, chicken broth, and diced tomatoes (with their juice) to the pot. Stir well to combine all the ingredients.
Bring the mixture to a boil, then reduce the heat to low, cover, and simmer for 15-20 minutes, or until the pasta is tender and the liquid is mostly absorbed. Stir occasionally to prevent sticking.
Once the pasta is cooked, stir in the corn and half of the shredded cheddar cheese until melted and well combined.
Serve hot, garnished with the remaining cheese and fresh cilantro if desired.