Heat 1 tablespoon of olive oil in a large skillet over medium-high heat. Add the sliced chicken breast and cook until browned and cooked through, about 5 minutes. Remove from skillet and set aside.
In the same skillet, add the remaining tablespoon of olive oil. Add the sliced bell peppers and onion, and cook until they are softened, about 5-7 minutes.
Return the chicken to the skillet with the vegetables. Add the chili powder, cumin, paprika, garlic powder, salt, and black pepper. Stir to combine, cooking for an additional 2-3 minutes.
To assemble the burrito bowls, divide the cooked rice among four bowls. Top each with the chicken and vegetable mixture.
Add salsa and shredded cheese to each bowl. Garnish with chopped cilantro and serve with lime wedges.
Notes
Adjust the seasoning to taste, and feel free to add more heat with additional chili powder or fresh jalapeños if desired.