Heat up a large pan with olive oil on medium heat. While that is warming up, mince the onion and cut the speck into small squares.
Add the onions to the pan and saute them for a few minutes or until they are golden brown. Then add the speck and let it fry for 1-2 minutes.
Next, add the rice and let it brown. Slowly pour in the wine and let it evaporate, then start adding in the broth little by little, making sure to not add more until the previous batch has been absorbed into the rice. About halfway through, add the saffron, mix well, and continue cooking in the broth until the rice becomes tender (you might have broth left over, or you may need a little more – it tends to vary slightly).
Once the rice is completely cooked, add in the remaining butter and the Parmesan and mix until completely melted and the rice is coated.
Add salt and pepper to taste, serve in dishes and top with a little more Parmesan if desired!