No, it is water resistant. NorthFace has a DWR finish, which I assume degrades with use and washing. I bought this for downhill skiing on really cold days--which usually means sunshine, so being waterproof was not a deal breaker for me.
This item is not waterproof.
None of the literature says water proof. I am not concerned about...as long as I am warm I am happy.. I did have to exchange for a larger size which just arrived today.