He also looks pot-bellied, for a few reasons; his hips bulge outwards right before the belt, the shading on the chest darkens as it nears the belt, and the folds in the shirt come in from the sides, rather than the shoulders.
I don't think there should be any sort of definition line between his pecs either, that's a little weird, unless he's in a wet t-shirt competiton or something. If he's supposed to be buff, I would just make a flat plane of a lighter color across the pecs, to show that they're there under the cloth and it's catching the light.
The two folds in the cloak (on the arms) look more like bits of cloth that've been slashed half off, they should probably be a lot more rounded, especially if the cloth is thick. The shadow from the hood on the face is really weird, you seem to have pillowshaded the dark area.
The arms are definitely a bit too short, and I'm guessing a bit too thin, but that depends on what you're going for. The area where the gloves meets the sleeves looks like the glove has an elastic band on the end, cinching it tightly around the arm.
I hope some of this helps, keep at it!