Heat butter in a non-stick pan over medium heat. Add shallot and garlic. Simmer until softened, 1-2 minutes. Add mushrooms, and cook for 1-2 additional minutes.

Add risotto and stir for 1 minute. Add the white wine and simmer for an additional minute. Add hot chicken broth to the pan ½ cup at a time, stirring after each addition. Allow the risotto to absorb ⅔ of the broth before each addition. Continue until soft and creamy, about 20 minutes.

Season generously with salt and pepper and stir in Parmesan cheese and 2 tablespoons chopped fresh parsley. Divide and transfer to bowls when ready to serve.

Rinse scallops under cool water and remove the side muscle if still intact. Pat scallops as dry as possible using two sheets of paper towel or a clean dish towel. Season all over with salt and pepper.

Add the oil to a 12-inch cast iron skillet and bring to high heat. Once the skillet is hot and starts to smoke, add the scallops to the pan and sear for 2 minutes per side, undisturbed, or until a golden brown crust forms.

Remove scallops from the skillet and set them aside on a plate. Remove the skillet from heat and let cool for 2 minutes. Add the butter, lemon, and fresh parsley to the skillet, stirring occasionally until fully melted. Cook on low heat if needed.

Return the scallops to the skillet on low heat and cook for an additional 30-90 seconds. Use a spoon to spoon the butter over the scallops. Divide scallops and serve over risotto in a bowl and drizzle with extra lemon butter sauce as desired. Sprinkle with fresh parsley and serve immediately.