Parachute animations seem to be the same as in Arma 2, at least some of them.

The parachute opening doesn't look very realistic, and there should be a transition animation between freefalling and parachuting.

While parachuting, the character doesn't use his arms, and is perfectly static.

Landing is, well, not done at all, I guess. The character stops, and even starts sliding on the ground, while the parachute plays its animation.
There should probably be at least some kind of cloth simulation there, but more importantly, an animation for the characters when they touch the ground.
The parachute should also play a different animation when landing on water.