I'll preface this by stating I'm not a professional photographer, therefore I can't critique it from a purely technical point of view. As a person with an artistic eye, I'd say that picture shows the subject in warm tones against a cool background, placement seems nice.
In the ripples in extreme foreground, it appears from the ear and eye visible that I'm seeing the photographer perhaps, its hard to tell unless I import the image and flip it. Slightly distracting.
It appears the models hair is not as wet as it could be, as if it was drying. The lighting is nice in that there are strong shadows on around the neck, shoulders and chest.
When the hair is pulled away from the face like this with a wet look, I think a cleaner hairline looks better - about mid temple of the hairline it flares inward. Its not an imperfection of any means, just a visual aesthetic in that type of hair treatment.
Makeup and jewelry doesn't detract from the impact of the model's natural beauty. In this pose she reminds me a bit of Jane Seymour.
Its quite a classic posing that works well and works well with this model.