In a large pot over medium high heat, add olive oil and heat until shimmering.
Add red bell pepper, green bell pepper, garlic, and onions. Sauté for 3-5 minutes, until just softened and fragrant. Add cumin, chili powder, salt, and pepper and stir until combined.
Add the black beans, diced tomatoes & green chilies, corn, and orzo. Stir to combine.
Slowly add the chicken stock then bring mixture to a boil, turn the heat to medium low, cover and let simmer until orzo has fully cooked through and absorbed most to all the liquid, about 13 minutes, stirring occasionally.