Heat 1 TBSP of the oil in a large saute pan over medium-high heat.
Season the beef pieces generously with salt and pepper.
When the oil is hot sear the beef (in batches, dont overcrowd the pan) until well browned on all sides, about 7 minutes per batch, adding more oil to the pan if needed, then transfer all the seared beef to a large slow cooker.
Keep the pan over medium-high heat and add the onion, bell pepper, tomatoes, and garlic then cook, stirring occasionally, until the vegetables have softened, about 3 minutes.
Stir in the chili powder, crushed red pepper, and water then use a wooden spoon to scrape the bottom of the pan to release any stuck on bits.
Pour contents of the pan into the slow cooker with the beef.
Stir in the black beans then place a lid on the slow cooker and cook, on LOW heat, for 8 hours.
In a small bowl mix together the cornstarch and water until cornstarch is fully dissolved.
Stir the cornstarch mixture into the slow cooker then season the chili with salt and pepper to taste.
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