Faculty's just outside Lima (5)
I believe the answer is:
flair
'faculty's' is the definition.
(both can mean talent)
'just outside lima' is the wordplay.
'just' becomes 'fair' (just can mean fair in the sense of showing justice).
'outside' indicates putting letters inside.
'lima' becomes 'L' (phonetic alphabet: alpha, bravo, charlie etc.).
'fair' going around 'l' is 'FLAIR'.
(Other definitions for flair that I've seen before include "?lan, dash" , "Natural ability or elegance" , "Natural talent and aptitude" , "Taste" , "Faculty" .)