In a large saucepan over medium-high heat, add the olive oil. When the oil is hot, add the onion, bell pepper, and jalapeno. Saute for 2 minutes, or until vegetables are softened.
Add the rice, cumin, paprika, black pepper, and salt. Saute for an additional 1 minute to lightly toast the rice.
Stir in the tomato sauce and chicken-style broth. Bring to a boil then reduce heat to low, cover, and simmer for 20 minutes or until the rice is fully cooked. Remove from heat and fluff with a fork.
Gently stir in the beans and adjust seasoning to taste. Sprinkle with cilantro and serve hot.