How should I format code words in my personal statement?
Probably you are thinking about this too hard: as long as it's clear what you're saying and choosing a reasonable form of presentation, it's probably fine.  Monospace font is one way to do this, another way is to put the names in quotes, just like you did in your question.

If you want to be really cautious, you can look at scientific papers from the field and see what conventions people tend to use.  That way, you will be certain that your readers will find your presentation familiar.