In the large pot, heat the oil and butter over moderately low heat. Add the shallot and cook, stirring occasionally, until translucent, about 5 minutes. Add the rice and stir until it begins to turn opaque, about 2 minutes.
Add ¼ of broth and continue to cook until it evaporates and the onion becomes soft and red.
Add the washed and drained rice and stir until it begins to turn opaque, about 2 minutes.
Add the wine until all of it has been absorbed.
Add about 1/2 cup of the simmering broth and cook, stirring frequently, until it has been absorbed.
Wait until the stock is almost completely absorbed before adding the next 1/2 cup.
Cook the rice in this way adding little by little the broth until tender, 25 minutes in all.
Remove the pan from the heat.
Allow the risotto to rest for at least 2 minutes after adding the grated Grana Padano cheese, and butter.
Transfer the risotto to a serving bowl and top with the cheese sauce.
Serve with chopped fresh parsley as a garnish.