01 - Place chicken breasts in a large saucepan or Dutch oven. Add chicken broth and bring to a boil over medium-high heat. Reduce to a simmer, cover, and cook for 15-18 minutes until chicken is cooked through.
02 - Remove chicken from the pot and shred using two forks. Set aside.
03 - In the same pot, cook onion over medium heat until softened, about 3 minutes. Stir in garlic and cook for 1 minute more.
04 - Add green chiles, cumin, oregano, chili powder, paprika, and cayenne pepper. Cook for 1 minute, stirring constantly to release flavors.
05 - Return shredded chicken to the pot. Add cream cheese and stir until melted and well combined.
06 - Pour in heavy cream and bring to a gentle simmer. Add shredded Monterey Jack cheese and stir until melted and the chili reaches a creamy consistency.
07 - Season with salt and pepper to taste. Simmer for 5 more minutes to allow flavors to meld together.
08 - Serve hot, garnished with fresh cilantro, sliced jalapeños, and lime wedges if desired.