We are all waiting for Jesus Christ to come again, and we should be. The master in this parable is Christ, and the faithful and wise servant refers to every believer to whom Christ has given some kind of responsibility in the church. This parable is a warning especially to church leaders who are entrusted with the spiritual nourishment of church members.
How good it would be for all of Christ's servants to be busy with what Christ has entrusted to them. If they are faithful in small things, Christ will give them more important responsibilities.