Step 1

Heat oil in large saucepan over medium heat. Add onion, garlic, and serrano; sauté until onion is translucent, about 9 minutes. Mix in rice; stir 2 minutes. Mix in broth and salt; bring to boil. Reduce heat to low; cover and cook until rice is just tender and broth is absorbed, about 15 minutes. Remove from heat. Let stand, covered, 5 minutes.

Step 2

Transfer rice to bowl; cool to barely lukewarm, stirring occasionally, about 1 1/2 hours. Add 1/2 cup Cilantro Dressing to rice; toss to coat. Season with salt and pepper. (Can be prepared 2 hours ahead. Let stand at room temperature.)