The user story here would be:
As a user, I'd like to easily locate to the next field where my action is required.
Now there are many ways to satisfy this, but also quite a few assumptions being made.
Visual inspection anyone?
One of them, is simply by visual inspection. If you know a bit about visual cognition, you can design the interface in such way that users can easily spot such fields by mere scrolling. Adding some clear indicator to what requires action (or what does not) would mean a very low cognitive load as users scroll the step list. (There is a research from which you can infer that this would be an effective method for a list composed of up to around 70 items.)
However, in specific scenarios, even this low cognitive load can accumulate to something of annoyance. For instance, it may be the case that users repeatedly use the wizard each day, and worse - that in the way it is filled is not sequential and involving quite a bit of step-skipping.
And so, you've opted for a way to help users by providing an action taking them to the next required field. Now there's a hidden assumption here that indeed the next required field (as determined by your arrow) is what the user wants - can it be the case that the user will prefer to fill a latter step?
Keep the user in control
Now here is a real-world metaphor: Consider you have to go through 40 letters that you received. Now all the letters are in front of you, although some are further away. You can do this in two ways:
- Either there's a servant who gives you one letter at a time, you can either open the letter or give it back to the servant so to open it later.
- You pick a letter, if you're done with it you put it in the 'done' tray, or you can put it back on the table. No servant involved.
The former, involves an external agent whose work is beyond your control and could appear odd at time. The user has less control here.
The latter puts the user in full control.
Using this metaphor, here's a revised user story:
As a user, I'd like to see what else requires my action, so I can choose what to do next.
The way you'd achieve this on an interface is a simple filter above the step list:
download bmml source – Wireframes created with Balsamiq Mockups
In addition, you can provide something like '7 steps left' to indicate progress.