Heat olive oil in a large skillet over medium-high heat. Add the onion and cook for 3–4 minutes until softened and translucent.
Add the garlic and jalapeño, stirring for about 30 seconds until fragrant.
Add the ground beef, breaking it apart with a wooden spoon. Cook until browned, about 6–8 minutes. Drain excess fat if needed.
Stir in the tomato paste, cumin, chili powder, and oregano. Cook for 1–2 minutes to toast the spices.
Add the diced tomatoes, potato, carrot, and beef broth. Stir everything together.
Reduce heat to medium-low, cover, and simmer for 15–18 minutes, stirring occasionally, until the potatoes and carrots are fork-tender.
Stir in the frozen peas during the last 3 minutes of cooking.
Taste and adjust seasoning with salt and pepper before serving.