Heat olive oil in a large skillet over medium heat. Add the diced onion and sauté for 2-3 minutes until they begin to soften. Add the garlic and sauté, stirring, for 30 seconds. Add the diced red bell pepper and cook for an additional 3-4 minutes until the bell pepper softens slightly.
Stir in the black beans and Hatch Chile Red Enchilada Sauce. Add chili powder, salt, and pepper to taste. Simmer for 5 minutes to allow the flavors to meld together.
Divide the cooked rice among 4 serving bowls. Top each bowl with a generous amount of the Tex-Mex mixture. Garnish with toppings of choice.