And Aaron shall cast lots over the two goats, one lot for YHVH and the other lot for Azazel.
Leviticus 16:8

Who or what is Azazel? The meaning of the word is uncertain, but there are some possibilities. The most likely explanations seem to be az azel (goat of departure) or azaz el (fierce god), but also look at the individual letters:

Azazel is spelled Ayin-Zayin-Aleph-Zayin-Lamed. If the ancient pictographic origins of these letters are taken metaphorically, they could mean "Vision - Cut off - Strength - Cut off - Authority".

Vision, power, and authority are three vital components of leadership. If they are separated, if a leader lacks any one of them, destruction may follow.

How much credence should be given to such interpretations is debatable, of course.