Trim visible fat off of the meat, if necessary. Cut the meat into 4 equal pieces. Season the beef with salt and pepper to taste.
Turn the pressure cooker on and select “Sauté” mode, adjust to more. Heat 2 tablespoons of oil. Sear the meat in batches until golden-brown, about 2 minutes per side. Transfer to a large plate.
Add the remaining 2 tablespoons of oil to the pot. Add onion, green pepper and garlic; sauté, stirring constantly, until tender and fragrant, about 3 minutes.
Deglaze the pot by adding 1/4 cup of the broth and scraping the bottom of the pot with a wooden spoon to loosen the browned bits. Press “Cancel”.
Return the meat and any accumulated juices to the pressure cooker. Add the remaining beef broth, tomato paste, tomato sauce, Worcestershire sauce, cumin, oregano and bay leaves; mix until well combined. Secure lid and close pressure-release valve.
Select “Manual” or “Pressure Cook” and adjust time to 45 minutes. When the time is over, let the pressure release on its own for 5 minutes. Then, carefully turn the valve to "Venting," to release any extra pressure that might still be in there. Then remove the lid. Press "Cancel” and discard the bay leaves.
Use 2 forks to shred the meat, discarding the fatty bits. Toss to coat with the juices.
OPTIONAL: You can reduce the cooking juices, is desired. After the meat is shredded select “Sauté” mode, adjust to normal, and cook for 10 – 15 minutes until the juices are reduced and thicken to your liking.