In a large pot over medium high heat, add the canola oil, followed by the ground beef. Cook until browned, crumbling as it cooks, around 5 minutes. Drain excess fat, season with salt and pepper, then remove from pot and set aside.
Cook the Knorr Fiesta Sides Spanish Rice according to package instructions. Once cooked, add the ground beef back to the pot, followed by the diced tomatoes, black beans, and corn. Stir gently to combine, reduce heat to medium low and allow to heat until everything is hot, around 5 minutes. Top with colby jack cheese and continue heating until melted, then serve immediately.