Melt 1 tablespoon of the butter in a medium saucepan over medium heat. Add the almonds and cook, stirring constantly, until golden and nutty smelling, about 3 minutes. Transfer to a small bowl and reserve.
Melt the remaining 2 tablespoons butter in the saucepan and add the onions. Cook, stirring occasionally, until softened, about 5 minutes. Add the rice and cranberries and cook, stirring, until well coated, about 1 minute. Add the chicken broth, 1 1/2 cups water, 1/2 teaspoon salt, and pepper to taste, and increase the heat to medium-high. Bring to a boil, then cover and reduce the heat to low. Cook until all the liquid has been absorbed, about 18 minutes. Take off the heat and let stand, covered, for 5 minutes. Stir in half of the reserved almonds and the parsley, and season with salt and pepper. Garnish with the remaining toasted almonds.
Recipe courtesy of Valerie Bertinelli