Heat 2 tablespoons olive oil in a large skillet over medium heat.
Add the diced onion and cook for 3-4 minutes until softened.
Add the minced garlic and cook for 30 seconds until fragrant.
Add the ground beef to the skillet and cook, breaking it apart with a spatula, until browned and cooked through, about 6-8 minutes.
Drain excess fat from the skillet if necessary.
Add the diced green and red bell peppers to the skillet and cook for 4-5 minutes until tender.
Stir in the diced tomatoes, frozen corn, chili powder, ground cumin, smoked paprika, black pepper, and salt.
Cook for an additional 5 minutes, stirring occasionally, to allow flavors to combine.
Add the cooked white rice to the skillet and stir until evenly mixed and heated through.
Sprinkle shredded cheddar cheese over the top of the skillet mixture and cover with a lid for 2 minutes to melt the cheese.
Remove from heat and garnish with chopped fresh parsley before serving.