Finely chop the red onion, chop the cilantro, and deseed and dice the jalapeño.
Rinse the rice until the water runs clear and drain. Rinse the dried black beans and drain.
Layer the ingredients in the Instant Pot in this exact order without stirring: chopped onion, rice, rinsed black beans, water or broth, cumin, garlic powder, chili powder, paprika, oregano, salt, diced jalapeño, and finally the can of diced tomatoes.
Use a spoon to lightly press and distribute the layers evenly, but do not stir.
Close the lid and set the pressure valve to sealing. Select Pressure Cook (High) or Manual High and set for 22 minutes.
When cooking completes, perform a quick release of the pressure according to your Instant Pot's instructions.
Open the lid, add the chopped cilantro, and gently stir to combine.
If the mixture is still a bit liquidy or the rice seems slightly underdone, close the lid and let it sit for 10 minutes to finish steaming.
Fluff gently with a fork and serve warm.