Heat the olive oil in a large pot over medium heat. Add the onion and garlic and cook for 3 to 4 minutes until the onion softens.
Stir in the chili powder, cumin, and cayenne pepper. Cook for 1 minute until the spices smell fragrant.
Pour in the vegetable broth, black beans, and fire-roasted tomatoes. Bring the mixture to a boil.
Reduce the heat and simmer for 10 minutes to let the flavors blend.
Add the frozen corn and cook for another 5 minutes until the corn is heated through.
Taste and season with salt and black pepper as needed.
Ladle into bowls and top with cilantro and a squeeze of lime.