Pat chicken dry, then season evenly with the salt and black pepper.
Heat olive oil in a large skillet over medium-high. Brown chicken 2–3 minutes per side. Transfer to slow cooker.
Add onion and bell pepper to the skillet. Cook until softened, about 5 minutes.
Stir in garlic, tomato paste, smoked paprika, oregano, cumin, red pepper, and saffron. Cook 1 minute, stirring.
Pour in broth and sherry vinegar. Scrape up browned bits and simmer 1 minute.
Transfer skillet mixture and diced tomatoes to the slow cooker. Nestle chicken into the sauce.
Cover and cook on Low 5–6 hours or High 2.5–3 hours, until the chicken is very tender.
Stir in olives. Taste and adjust seasoning as needed.
For a thicker sauce, mix cornstarch with water. Stir into cooker and heat on High 10–15 minutes.
Serve the chicken with its sauce and sprinkle with parsley.