In a medium saucepan, combine the wild rice and water. Bring to a boil, then reduce heat to low and simmer, covered, for 45 minutes or until rice is tender. Fluff with a fork and let cool.
In a large bowl, combine the cooked wild rice, bell peppers, red onion, cranberries, parsley, and almonds.
In a small bowl, whisk together the olive oil, balsamic vinegar, salt, and pepper. Pour over the salad and toss to combine.
Chill the salad in the refrigerator for at least 30 minutes before serving.