Heat olive oil in a large soup pot over medium heat. Add the diced onion and cook for 4–5 minutes, until softened. Stir in the garlic and cook for another 1–2 minutes until fragrant, being careful not to burn it.
Sprinkle in the cumin, chili powder, smoked paprika, oregano, and cayenne pepper. Stir for about 30 seconds to toast the spices. Then add the tomato paste and canned diced tomatoes. Let everything cook for 3–4 minutes to develop the flavors.
Add the chicken broth, black beans, and corn. Bring the mixture to a gentle boil, then reduce heat and let it simmer for about 15 minutes. This step allows the soup to thicken slightly and the flavors to meld.
Stir in the shredded chicken and simmer for another 5–7 minutes, until the chicken is heated through. Taste and adjust with salt, black pepper, or extra spices if desired.
Turn off the heat and stir in the lime juice and chopped cilantro. These add a burst of freshness and brightness that balances the richness of the soup.
Ladle the soup into bowls and pile on your favorite toppings — crispy tortilla strips, avocado, cheese, sour cream, and more. Serve with lime wedges for an extra zesty finish.