I am using the rider-waite deck for studies and what I see in this card is a symbol of religion, a priest, teacher of morals, traditions and beliefs.

The Heirophant is also known as the High Priestess. The male side of Vesta. Yin and yang.

His features remind me of a buddist monk, but he is clothed in Western religious garb... interesting. Well he is obviously not afraid of ruling. He also holds a sceptre, and points to the heavens. Two people are before him, in a lower position. He is in possession of two keys: he holds the power, the answer, maybe even the final say.

The position of the Heirophant and the High Priestess is reminiscent of the positions of the bishops in chess. They are beside the King and Queen. The female is beside the queen, naturally, and the same with the King. My friend once suggested, as an idea, that maybe the bishops are the informants of the rulers, but they are able to control what information goes in and out. Perhaps this applies to the Heirophant and the Priestess: they represent a second-in-power or the shadow ruler.