Remove the beef from the refrigerator 15 minutes before cooking, pat dry with paper towels, and season generously with salt and pepper.

Heat a large heavy-bottomed pot or Dutch oven over medium-high heat, add 1 tablespoon of vegetable oil, and brown the beef in batches for 2 to 3 minutes per side, then transfer to a plate.

Add the remaining 2 tablespoons of vegetable oil to the pot, add the sliced onions, and cook over medium heat for 8 to 10 minutes until softened and caramelized.

Stir in the minced garlic and cook for 1 minute until fragrant, then add the tomato paste and cook for 2 minutes, stirring constantly.

Sprinkle in the ground cumin, ground coriander, ground cinnamon, and cayenne pepper; stir continuously for 1 minute to toast the spices.

Return the browned meat and any juices to the pot, pour in the beef broth, and stir until the meat is mostly submerged.

Increase heat to medium-high and bring to a simmer, then reduce heat to low, partially cover, and maintain a gentle simmer for 1 hour and 30 minutes.

Stir the stew, continue cooking for an additional 30 to 45 minutes until the meat shreds easily and the sauce has reduced to a glossy consistency.

Remove from heat, let rest off heat for 10 minutes, garnish with chopped cilantro or parsley if desired, and serve.