In a large skillet, heat olive oil over medium heat. Add the diced chicken and season with chili powder, cumin, garlic powder, onion powder, salt, and pepper. Cook for about 5-7 minutes until the chicken is browned and cooked through.
Stir in the uncooked brown rice, chicken broth, black beans, corn, and diced tomatoes. Bring the mixture to a boil.
Reduce the heat to low, cover the skillet, and let it 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 for an additional 2-3 minutes until the cheese is melted.
Serve the burrito bowl topped with diced avocado, fresh cilantro, and lime wedges on the side.