Preheat your oven to 375°F (190°C).
In a large frying pan, heat the olive oil over medium heat. Add the chicken strips and cook until they're no longer pink in the middle, about 5-7 minutes.
Remove the chicken from the pan and set aside. In the same pan, add the sliced bell peppers and onion. Sauté until they are tender and slightly charred, about 8-10 minutes.
In a small bowl, mix together the chili powder, ground cumin, garlic powder, paprika, salt, and black pepper.
In a separate bowl, combine the softened cream cheese and heavy cream until you get a smooth mixture.
Return the cooked chicken to the pan with the vegetables, sprinkle the seasoning mix over the top, and stir to coat everything evenly.
Pour the cream cheese mixture into the pan and mix until all ingredients are well combined.
Transfer the mixture to a greased 9x13 inch (23x33 cm) casserole dish and spread evenly.
Sprinkle the shredded cheddar cheese over the top of the casserole.
Bake in the preheated oven for 15-20 minutes, or until the cheese is melted and bubbly.
Garnish with fresh cilantro before serving, if desired.