With recent changes in how UK higher education is funded, universities are operating in a context in which finances are uncertain. It is more important than ever that university leaders are able to manage the finances of their organisations in ways which both provide long-term security and allow for investment in strategically important initiatives. Teaching intensive universities must be able to generate income and oversee the allocation of resources in such a way that responds to student pressure to provide high-quality education and improve services. This article explores the benefits, disadvantages and challenges of aligning corporate and financial strategies in order to support delivery of their strategic aims and operational targets. Recommendations are made for well-managed, well-researched risk taking and developing autonomy within academic and professional services units, such that local resource allocation decisions are also in line with the organisation's strategic aims.