In a large pot, heat olive oil over medium heat. Add ground beef and cook until browned, draining any excess fat.

Stir in finely diced onion and minced garlic. Cook until the onion becomes translucent, about 3-4 minutes.

Add diced potatoes, chili powder, smoked paprika, cumin, salt, and black pepper. Stir to coat the potatoes in spices.

Add the broth, diced tomatoes with green chiles, canned corn, black beans, and pinto beans. Bring to a boil, then reduce heat and simmer uncovered for 20 minutes.

Lower heat and stir in heavy cream, shredded cheddar cheese, and cream cheese (if using) until melted and creamy.

Adjust seasoning if needed, adding more salt or pepper as desired.

Ladle the soup into bowls, garnishing with fresh cilantro or parsley.