In a large pot, heat the olive oil over medium heat. Add the diced onion and sauté until translucent, about 5 minutes.
Stir in the minced garlic and diced red bell pepper, cooking for another 2-3 minutes until softened.
Add the smoked paprika and stir to combine.
Add the shrimp to the pot and cook until they turn pink, about 3-4 minutes.
Stir in the corn and chicken broth, bringing the mixture to a simmer.
Reduce the heat and stir in the heavy cream, salt, black pepper, and cayenne pepper if using. Simmer for an additional 5-10 minutes, allowing the flavors to meld.
Taste and adjust seasoning if necessary.
Serve hot, garnished with sliced green onions.