Rinse the rice under cold water until the water runs clear.
In a large pot, sauté the onion and garlic over medium heat until translucent.
Add the diced bell pepper and continue to sauté for another 3-4 minutes.
Stir in the rinsed rice, chili powder, cumin, and diced tomatoes with their juices.
Pour in the broth, black beans, and corn, stirring well to combine.
Bring the mixture to a simmer, cover the pot, and reduce the heat to low.
Cook for 18-20 minutes until the rice is tender and has absorbed the liquid.
Remove the pot from heat, fluff the rice with a fork, and stir in half of the cheese.
Top the casserole with the remaining cheese and cover for another 5 minutes.
Garnish with chopped cilantro before serving.