Preheat oven to 350 degrees. In a large skillet, heat oil; add chicken, taco seasoning, cumin, salt and pepper; cook until heated through. Add enchilada sauce and cook until almost all the liquid is absorbed by the chicken; let cool to room temp. In a large bowl, mix together chicken mixture, green chilies, cream cheese, chicken soup, mayo, sour cream, green onions and cayenne pepper. Fold in 1 cup each of the two cheeses (reserving the other 1/2 cup each for topping). Mix in the jalepeno pepper. Spray a large baking dish with non-stick spray. Transfer mixture into baking dish. Top with remaining cheese and dot top with black olives (as many or as little as you want). Bake, covered at 350 degrees for 30 minutes or until hot and bubbly. Serve warm or at room temp with lots of sturdy tortilla chips.