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Heat 1/4 cup oil in a large high-sided skillet with a fitted lid over medium-high. Add onion, bell pepper, and mushrooms; cook 7 to 8 minutes, until softened. Add garlic, paprika, saffron, salt, and pepper; cook 2 minutes, until fragrant.
Add wine and cook 2 to 3 minutes, until mostly reduced. Stir in rice; cook 2 to 3 minutes, until rice begins to turn translucent. Stir in chickpeas, tomatoes, broth, and green peas. Bring to a low boil, reduce heat, cover, and cook 25 minutes.
Meanwhile, combine parsley, lemon zest and juice, and remaining 2 Tbsp. oil in a small bowl. Once rice is cooked, remove lid and cook 5 more minutes. Scatter parsley oil overtop, and garnish with olives, if desired.