Heat a large dutch oven over medium high heat. Add olive oil and let heat for 1-2 minutes.
Add the diced onions and green bell pepper to the dutch oven and cook for 5-6 minutes, until translucent.
Add the finely diced jalapeño, minced garlic, salt, garlic powder, cumin, chili powder, paprika, black pepper and cayenne pepper and cook an additional 1-2 minutes, stirring often to ensure the spices and garlic don’t burn.
Then, add the vegetable stock, red potatoes, black beans, corn, and diced tomatoes. Stir to combine.
Bring the soup to a boil and then cover with a lid and let simmer for 40 minutes, until potatoes are tender.
Garnish with lime wedges, fresh cilantro, and sliced jalapeño if desired. Serve immediately.