In a large pot, heat 2 tablespoons olive oil over medium heat. Sauté the onion, jalapeno, and garlic for about 5 minutes until tender. Stirring frequently.
Season the chicken pieces all over with salt and pepper. Then add the chicken to the pot along with the other tablespoon of olive oil, cumin, chili powder, oregano, and crushed red pepper.
Toss chicken and seasonings together and lightly brown chicken on all sides.
Stir in the can of Rotel, chicken broth, corn, and cannellini beans. Increase the heat to medium-high and bring to a low boil. Let the chili boil for 30 minutes.
Add the cream cheese and stir until completely melted. Stir in 1/2 of the crumbled bacon. Remove from the heat. Adjust the seasoning with salt and pepper as needed.
Ladle the soup into bowls and top with cheddar cheese, crumbled bacon, and a couple of jalapeno slices for garnish. Serve warm.
Notes
If you want to make the soup spicier, leave in some or all of the jalapeno seeds.
If the chili is too thick after cooking, add some more chicken broth to thin it out to your liking.