1. In a large saucepan, heat the olive oil until shimmering. Add the bell pepper, onion and garlic and cook over moderately high heat until the vegetables are just beginning to brown, about 4 minutes. Add the ham, cumin, coriander and chipotle and cook until the ham is lightly browned, about 3 minutes longer. Add the black beans, hominy and stock and bring to a boil. Simmer the stew over moderate heat until slightly thickened, about 10 minutes.
2. Add the cilantro and season the stew with salt and pepper. Spoon the stew into deep bowls, sprinkle with the Cheddar and serve.
Serve With: Warm corn tortillas and a bowl of sour cream.