Heat a large pot over medium heat. Add the ground pork and cook, breaking it apart with a spoon, until browned and cooked through, about 8-10 minutes. Once done, transfer the pork to a plate and set aside.
In the same pot, add the diced onion and cook for 3-4 minutes until translucent. Add the minced garlic, diced red bell pepper, and chopped jalapeño, and cook for another 2 minutes until the vegetables are soft.
Return the browned pork to the pot with the vegetables. Stir in the diced tomatoes, tomato paste, and beef broth. Mix well.
Season the mixture with chili powder, ground cumin, paprika, dried oregano, cayenne pepper, and salt and pepper to taste. Stir well to ensure all ingredients are combined.
Bring the chili to a boil, then reduce the heat to low and let it simmer, uncovered, for about 45 minutes to an hour, stirring occasionally. The chili should thicken and flavors will meld together.
Taste and adjust seasoning if necessary. If the chili is too thick, add more beef broth to reach your desired consistency.
Serve hot, garnished with fresh chopped cilantro and shredded cheddar cheese if desired.