In a large skillet or pot, heat the vegetable oil over medium heat. Add the chopped onion and bell pepper, sautéing until softened, about 5 minutes. Stir in the minced garlic and cook for an additional minute until fragrant.
Add the chicken pieces to the skillet, cooking until browned on all sides, about 5-7 minutes.
Stir in the diced tomatoes, cumin, oregano, paprika, salt, and black pepper. Cook for another 2-3 minutes to combine the flavors.
Add the rice to the skillet, stirring well to coat the grains with the mixture.
Pour in the chicken broth and add the bay leaf. Bring the mixture to a boil, then reduce the heat to low. Cover and simmer for 20 minutes, or until the rice is tender and has absorbed the liquid.
If using, stir in the frozen peas during the last 5 minutes of cooking.
Remove the bay leaf before serving. Fluff the rice with a fork and garnish with fresh cilantro if desired.