Heat the olive oil in an uncovered Instant Pot or multicooker on the saute function (normal setting). Add the onion and garlic, and saute for about 3 minutes.
Add the quartered tempeh and 1/2 cup of the broth to the pot. Saute and begin to crumble the tempeh with a wooden spoon. Prop the lid over the pot for 5 minutes. (Add vegetable broth as necessary to keep the tempeh from sticking.)
Meanwhile, in a small bowl, add 1/2 cup of the pinto beans and all of the diced jalapeno. Mash with a potato masher or fork.
Continue to stir and saute and crumble the tempeh until it resembles small white beans (or meatless crumbles). Transfer the mashed beans to the pot and, using the potato masher, mash into the tempeh.
Add the remaining whole beans, green chilies, tomatoes, water, chili powder (if using), and any remaining vegetable broth to the pot, combining well.
Cover the pot, move the steam release handle to sealing, select the manual function, toggle the pressure cooker button to low pressure, and set for 5 minutes. Once done, allow for a natural release.