Very lovely rendering. I do see a few problems though. The main figure's clothes look like they were painted over her as opposed to her wearing them. This is especially telling with the garter belt, boots, and her helm/crown. The lighting on her is also a bit weird. On the main portion of her body the light is coming from the upper left. However, it is coming from the upper right on her face and chest. Her face is also a bit off. From the perspective we are seeing her, we should be able to see under her chin.
Despite the weird lighting, I do like how you handled the light when and where it hits her form. You show an understanding of form, especially with the medium and small forums such as the muscles on her abdomen. I also like the contrast you have between the light and shadow. The detail put into the armor and weapons is also amazing. The fur on her cloak is also beautifully done.