It's not too bad, but it is indeed missing a lot of contrast.
I made a quick overpaint of your coloring if you don't mind. It's blurry and rushed and maybe not as well thought-out as it should be, but maybe it can illustrate some of the improvements that I [hopefully] made.
I made the whole thing in general darker by making a new layer on top, filling with a dark blue/purple color, and setting it to multiply. I adjusted the opacity until I liked it, and then flattened the image. I made the sky a lot darker and menacing. That blue you had just didn't look cold and actually had a sort of happy mood to it. This desaturated blueish purple I have does a better job, I think. I darkened the snow, of course. I added mostly purple, but I threw in some orange highlights. Orange and purple are a great combination, and work good as snow.
I darkened his fur, and added browns to it to differentiate it from the bones. I didn't really do anything with the bones, unfortunately, and I probably should have. I upped the higlights on the gold parts and made the jewels look more like orbs. To go the gold, put some damn brilliant orange and yellow on the brighter parts. On a new layer set to screen, put some cherry red on top, and it makes them pop more. Oh, I also made green light come from his eyes and nose, for some added effect and atmosphere.
That's about it. I liked your rendition sure enough, but it looked kind of ordinary. You had the detail work down pretty good, but your color theme was a little lacking, so I concentrated on that. It can give you a different perspective, at any rate.
Keep up the good work, and never be afraid to experiment.