Do not presoak beans. Combine them in the Instant Pot with onion, carrots, garlic, rosemary, thyme and lard. Season generously with black pepper and stir to combine.
Add lamb, wine and water, and stir to combine. Tuck the bay leaves into the mix.
Close up the Instant Pot and cook for about 45 minutes on the bean setting (yes, there is a bean setting). When it’s done cooking, turn it off and let the pressure release naturally, until the Float Valve goes down. This could take 15 or 20 minutes or so.
Taste and season with salt, if needed. Discard bay leaves. And if the soup is too thick, stir in a little more water, warming it up, if needed. Serve.