The answer to Scotland's talent shortage?

Scottish Financial Enterprise's much touted Fast Forward forum is set to focus on combatting potential skill shortages in the financial services sector.

Scotland's employers are facing a shortage of appropriately skilled workers and the financial services sector is no exception. So the Scottish Financial Enterprise (SFE) forum is to be charged with expanding and improving the country's available pool of talent.

The forum, launched a couple of weeks ago at Edinburgh's swanky Tower restaurant, is made up of financial companies and public-sector bodies. Its remit is to "promote innovation" within Scotland's all-important financial services industry.

SFE chief executive Amanda Harvie tells eFinancialCareers that a White Paper identifying areas to be looked at will be published by the forum during the summer.

Harvie says, "Scotland has a highly skilled workforce but we have to continue to raise our game. As the sector continues its rapid expansion we will need a mix of home-grown and outside talent to ensure we remain competitive. We can't just do it organically."

Earlier this month, State Street's Edinburgh-based senior managing director and SFE chairman John Campbell warned Scotland "could run out of staff" as the sector expands.

Recruiters are also sounding the alarm bells. Margaret Dyer, director of Joslin Rowe Scotland, says pressures on recruitment will increase if the market continues to thrive. The good news, according to Dyer, is that overseas workers are already flooding into Scotland and helping to ease the pain.

"We're not at crisis point," agrees Harvie. "But Dublin, for example, is experiencing shortages in key areas and we don't want that to happen here," she cautions. "We need to start acting now."

Harvie declines to name the companies involved in the forum but insists those participating were "the top tier of banking, life and pensions and asset servicing".