1. Broil red pepper 3 inches from heat 15 minutes or until charred on all sides, turning occasionally. Place in zip-top plastic bag, seal, and let stand 10 minutes to loosen skins. Peel peppers, discard skin and seeds, and chop roughly.
2. Place red pepper, olives, and next 4 ingredients in a food processor, and pulse until combined. Slowly add olive oil while processor is running, and blend well. Season with pepper.