Heat the olive oil in a large skillet over medium-high heat. Add the chicken pieces, season with salt, pepper, garlic powder, and onion powder. Cook until the chicken is browned and cooked through, about 5-7 minutes.
Stir in the uncooked rice, chicken broth, salsa verde, corn, and black beans. Bring the mixture to a boil.
Reduce the heat to low, cover the skillet, and simmer for about 20 minutes or until the rice is tender and has absorbed most of the liquid.
Remove the skillet from heat and sprinkle the shredded cheddar cheese on top. Cover the skillet again for a few minutes until the cheese is melted.
Garnish with chopped cilantro if desired and serve with lime wedges on the side.