Heat 2 tablespoons vegetable oil in a large pot or Dutch oven over high heat. Season the beef with salt and pepper. Add half the beef to the pot in a single layer and cook, turning, until browned, about 4 minutes. Remove with a slotted spoon to a bowl. Add 1 more tablespoon vegetable oil to the pot and brown the remaining beef; remove to the bowl.
Reduce the heat to medium and add the remaining 2 tablespoons vegetable oil. Add the onion and cook, stirring occasionally, until softened and browned, about 5 minutes. Add the garlic and jalapeno and cook, stirring occasionally, until softened, about 2 minutes.
Add the chili powder, cumin, 1/2 teaspoon salt and the tomato paste; cook, stirring, until deep red, about 2 minutes.
Add the beef and any juices from the bowl, the tomatoes, beef broth and 2 cups water. Bring to a boil, then reduce the heat so the liquid simmers. Cook, stirring and scraping the bottom of the pot occasionally, until the meat is fork-tender, about 1 1/2 hours.
Add the beans with their liquid and simmer until the chili is thickened, 20 to 30 minutes. Season with salt, pepper and more chili powder. Top as desired.